With coalition building and bargaining, transactions costs are higher the larger number of people involved
Indicate whether the statement is true or false
TRUE
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If the quantity of one good that must be forgone increases as successive units of another good are produced, then there is said to be increasing opportunity cost between the two goods.
Answer the following statement true (T) or false (F)
If the marginal propensity to consume (MPC) is 0.8, the multiplier is
A) 0.8. B) 5.0. C) 1.2. D) 0.2.
How is the efficient quantity of public goods determined?
What will be an ideal response?
The HeckscherOhlin model assumes that technology in each industry:
a. Is the same in each nation—each firm has access to the most profitable technology. b. has increasing returns so that one nation will be able to gain a comparative advantage by developing new technology. c. is very different across the world—some nations have access to technology, whereas others do not. d. is hard to access because R&D is very expensive especially for lowincome nations.