If a nation has no absolute advantage, then it
A) cannot gain from trade.
B) still gains from trade.
C) can only gain from trade if it raises its productivity levels.
D) can only gain from trade if it reduces wages paid.
E) can only gain from trade if it produces outside its production possibilities curve.
B
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Under perfect capital mobility, fiscal policy has the largest impact on the income under:
a. fixed exchange rates. b. floating exchange rates. c. dollarization. d. a currency union.
_____ is a resource whose quality is most often enhanced by technological change
a. Capital b. Land c. Labor d. Entrepreneurship e. Credit
A typical 50-year-old male earns: a. one-third more than a male in his early 20s
b. nearly twice the income of a male in his early 20s. c. one-third less than workers over 65. d. nearly twice the income of workers over 65.
Which of the following statements best describes the scientific method?
a. The use of modern electronic testing equipment to understand the world. b. The unbiased development and testing of theories about how the world works. c. The use of controlled laboratory experiments to understand the way the world works. d. Finding evidence to support preconceived theories about how the world works.