Sending countries that do not receive much in the way of remittances probably gain well-being, but those receiving substantial remittances probably lose well-being.
Answer the following statement true (T) or false (F)
False
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According to the Law of One Price, if two countries produce an identical good, assuming transportation costs and trade barriers are not an issue ________
A) the value of the currency in both countries should rise B) the value of the currency in both countries should fall C) the price of the good should be the same in the two countries D) the value of the currency in one country will rise by the same amount that the value of the currency in the other country falls
A specific investment is
A) one that can only be used in a transaction with a single firm. B) an investment that cannot be physically moved, such as an oil refinery. C) reduces the possibility of a holdup occurring. D) is more expensive than a general investment.
When a perfectly competitive firm increases output, total revenue:
A. decreases, because there is no price effect. B. increases, because there is no quantity effect. C. decreases, because there is no quantity effect. D. increases, because there is no price effect.
What prediction about growth would most economists make if a government enacts a tax on all transactions in financial markets?
A. The tax would reduce growth because it would make it harder for those with productive opportunities to obtain funds from savers. B. The tax would increase growth because it would encourage people to leave the unproductive financial sector and move to a useful sector of the economy. C. The tax would probably have no effect on growth because it would not affect capital or technology. D. The effects would depend on whether it was borne primarily by the rich or by the poor.