No country can have an absolute advantage in the production of more than one good
a. True
b. False
Indicate whether the statement is true or false
False
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Given the information in Figure 18.1, the competitive output in the corbomite industry is:
A) Q0. B) Q1. C) Q2. D) any level as long as price is P0.
If the price of a digital SLR camera in Japan is ¥55,000 . and the exchange rate is 93 ¥/$, calculate the dollar price of the digital SLR camera in Japan
a. $603.29 b. $397.48 c. $886.82 d. $591.40 e. $101
From a purely economic point of view, discrimination exists when
A. black teenagers earn more than white teenagers. B. all factors are earning average products. C. women earn less than men. D. equivalent factors earn different payments for equal contributions to output.
If the SRAS curve intersects the AD curve to the left of Natural Real GDP, the economy is
A) in a recessionary gap. B) at Natural Real GDP. C) in an inflationary gap. D) at full-employment Real GDP.