The free movement of financial capital is desirable for all countries
Indicate whether the statement is true or false
FALSE
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In a two-country, two-commodity model, if a country has an absolute advantage in the production of a certain good, it implies that
A. this country has higher labor productivity in the production of this good. B. it is not possible that this country can gain by importing this good from the other country. C. this country also has a comparative advantage in the production of this good. D. this country has greater resources than the other country.
Which of the following is TRUE about comparative advantage?
A) Comparative advantage explains trade among nations, but not within nations. B) Comparative advantage explains trade within nations, but not among nations. C) Comparative advantage explains trade within nations and among nations. D) Comparative advantage has nothing to do with trade among nations; it only is concerned with specialization within a firm.
The natural rate of unemployment never changes
a. True b. False
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the following transactions except:
A. sell foreign currency resulting from the exports of manufactured t-shirts. B. sell foreign currency resulting from the sale of a U.S. treasury bond. C. purchase foreign currency in order to import a BMW. D. purchase foreign currency in order to purchase a U.S. treasury bond.