The HO model rules out the classical model's basis for trade by assuming that ________ is (are) identical between countries
A) factor endowments
B) factor intensities
C) technology
D) opportunity costs
C
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Data on wages, education, and many other characteristics of the population that are available to anyone who wants to use it are called:
A) private-use data. B) public-use data. C) primary data. D) secondary data.
If you have a checking account at a local bank, your bank account there is a(n)
A. asset to the bank and an asset to you. B. liability of the bank and a liability of yours. C. liability of the bank and an asset to you. D. asset to the bank and a liability of yours.
The opportunity set contains:
a. a single combination of consumption that someone can afford given the prices of goods and the individual’s income. b. all possible combinations of consumption that someone can afford given the prices of goods regardless of the individual’s income. c. all possible combinations of consumption that someone can afford given the prices of goods and the individual’s income. d. a single combination of consumption that someone can afford given the prices of goods regardless of the individual’s income.
What is the cost of transactions as it relates to the harm caused by inflation?
A. The cost associated with the time and effort of managing your spending B. Production costs plus profit C. The cost of the products whose prices are rising D. The cost of the BLS market basket