Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Which of the following statements can be said of Country A? Country A:
A. has the comparative advantage in car production only.
B. has the comparative advantage in truck production only.
C. has the comparative advantage in car and truck production.
D. does not possess the comparative advantage in either good.
A. has the comparative advantage in car production only.
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Which of the following statements is correct?
A) An increase in the money wage rate shifts the aggregate demand curve leftward. B) An increase in the price level shifts the aggregate demand curve leftward. C) An increase in the price level shifts the aggregate demand curve rightward. D) An increase in the quantity of the money shifts the aggregate demand curve rightward. E) An increase in the real interest rate shifts the aggregate demand curve rightward.
A cartel is an organization of firms in which there is a dominant firm which dictates price and output decisions to other member firms
a. True b. False Indicate whether the statement is true or false
Which of the following serves to protect a monopoly structure?
a. appearance of close substitute goods b. creation of technologies that serve to break down barriers to entry c. continuing exclusive access to resources required to produce the good d. easier access to resources required to produce the good e. diseconomies of scale
A tariff is a tax on imports.
Answer the following statement true (T) or false (F)