A country can have a negative balance of trade and a positive balance of goods and services
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose TC = 10 + (0.1 ? q2). If p = 10, the firm's profit maximizing level of output is
A) 40. B) 50. C) 60. D) 0, since the firm will shut down.
"As I add more workers to the factory line, the additional output produced by each additional worker seems to decline. Eventually, the workers just get in each others' way.". This statement by a factory supervisor refers to the law of:
a. comparative advantage. b. demand. c. supply. d. increasing returns to scale. e. diminishing marginal returns.
The exchange rate affects the trade in goods and services between California and NewYork
a. True b. False Indicate whether the statement is true or false
Suppose that at first the price of a bag of coffee is ?$15 and the price of a box of tea is ?$9. ?Then, the price of a bag of coffee changes to ?$30 and the price of a box of tea changes to ?$21. What has happened the money prices and relative prices of these two? goods?
What will be an ideal response?