"Trade raises the economic well-being of a nation in the sense that the gains of the winners exceed the losses of the losers.". This statement is correct for a nation that exports manufactured goods, but it is not correct for a nation that imports manufactured goods
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose that for Jason the marginal utility of $50-per-serving caviar is 100 and the marginal utility of $1-per-serving popcorn is 10 . For his snack, Jason should buy
a. the caviar if he has the $50; otherwise the popcorn b. the caviar if he has the $50; otherwise nothing c. the popcorn, whether he has the $50 or not d. one serving each of the caviar and popcorn, if he has $51 e. five servings of popcorn for each serving of caviar
If the Federal Reserve unexpectedly raised its interest rate target, which of the following would most likely occur?
a. The interest rate would increase and bond prices would rise. b. The interest rate would decrease and bond prices would rise. c. The interest rate would increase and bond prices would fall. d. The interest rate would decrease and bond prices would fall. e. The interest rate would increase but bond prices would not change.
Which of the following is an example of a market?
a. a gas station b. a garage sale c. a barber shop d. All of the above are examples of markets.
Lisa consumes only pizzas and burritos. In equilibrium, her marginal utility of pizza is 20 and her marginal utility of a burrito is 10. The price of a pizza is $4. What is the price of a burrito?
What will be an ideal response?