A country must have comparative advantage in a good in order to have absolute advantage in that good
Indicate whether the statement is true or false
FALSE
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An example of a capital good is
A) a fiber optic cable TV system. B) an insurance policy. C) a haircut. D) an iPod. E) a slice of pizza.
If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the left
a. True b. False Indicate whether the statement is true or false
For the sake of this question, say that total inventories in the U.S. was $1 trillion in one year and then $1 trillion the next year. Would there be any inventory investment?
A. yes B. no C. cannot tell with the given information
The auditors who are engaged to examine the financial statements of a business enterprise will request a cutoff bank statement primarily in order to:
A) detect lapping. B) detect kiting. C) verify reconciling items on the client's bank reconciliation. D) verify the cash balance reported on the standard financial institution confirmation form.