Which statement is true?
A. Comparative advantage and absolute advantage are identical terms.
B. A country can have a comparative advantage without having an absolute advantage.
C. The U.S. has a comparative advantage and an absolute advantage with nearly all of its trading partners.
D. Trade cannot take place unless each trading partner has an absolute advantage in the production of the good or service that it is trading.
B. A country can have a comparative advantage without having an absolute advantage.
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Businesses typically issue bonds to finance
A) their inventories. B) payments to their workers. C) spending on new plant and equipment. D) dividend payments to their stockholders.
Points that lie beneath the production possibilities curve are:
A. unattainable and inefficient. B. attainable but inefficient. C. unattainable but efficient. D. attainable and efficient.
Change in Quantity Supplied
What will be an ideal response?
Sequential exogeneity is implied by dynamic completeness.
Answer the following statement true (T) or false (F)