Unequal distribution of resources is one of the main reasons for international trade.
Answer the following statement true (T) or false (F)
True
You might also like to view...
An increase in the labor force participation rate
A) means there are more discouraged workers. B) implies that the unemployment rate must fall. C) implies that the unemployment rate must rise. D) is consistent with either a rise or a fall in the unemployment rate.
A consumer will maximize utility, given income and prices, when the marginal rate of substitution is equal to the ratio of the prices of the two goods
Indicate whether the statement is true or false
A ________ shows how much a firm will produce as a function of how much it thinks its competitors will produce
A) contract curve B) demand curve C) reaction curve D) Nash equilibrium curve E) none of the above
As a person receives more of a good, the _______________ from each additional unit of the good declines.
A. utility B. sunk costs C. marginal utility D. budget constraint