If the world price of a good is equal to its no-trade equilibrium price, the country will import more of the good from other nations
Indicate whether the statement is true or false.
Answer: False.
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If medical patients are rational (in the way economists think of the term), they will do what medical experts believe is best for them.
Answer the following statement true (T) or false (F)
The cost of two inputs A and B are $100 and $200 per unit per month. A firm can afford to invest $10,000 per month on these inputs. The firm uses 30 units of A. Given a linear isocost such that the entire budget is exhausted, the firm will use 10 units of B
Indicate whether the statement is true or false
If the dollar appreciates in the foreign exchange market:
A. net exports will increase. B. net exports will decrease. C. net exports will be unaffected. D. It is impossible to say how net exports will be affected without knowing how net capital outflow is affected.
Only a market economy must answer the questions of what goods to produce, how to produce them, and for whom to produce them
a. True b. False Indicate whether the statement is true or false