Economists work both inside and outside the administrative branch of the U.S. government
a. True
b. False
Indicate whether the statement is true or false
True
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International trade arises from
A) absolute advantage. B) comparative advantage. C) importation duties. D) the advantage of execution.
To determine the total demand for all consumers, sum the quantity each consumer demands
A) at a given price. B) at all prices and then sum this amount across all consumers. C) Both A and B will generate the same total demand. D) None of the above.
If a basket of goods costs 10 dollars in the United States and 11 euros in Belgium, then purchasing power parity will exist if the exchange rate between the euro and the dollar is:
A. 11 euros per dollar. B. 1.1 dollars per euro. C. 10 dollars per euro. D. 1.1 euros per dollar.
Which of the following demand factors are under the control of management?
a. price of product b. advertising c. price of competitors' products d. customer service e. all except c