The comparative advantage in a specific good can shift over time from one country to another, as the other countries can produce it at a cheaper cost after imitating the technology
a. True
b. False
Indicate whether the statement is true or false
True
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Looking over the last six decades since 1950, how did the average U.S. unemployment rate during the 2000s compare to the other five decades?
What will be an ideal response?
The oligopoly market structure model is characterized by:
a. many firms in an industry producing differentiated products. b. many firms in an industry producing identical products. c. few firms in an industry with natural barriers to entry. d. a single firm in an industry with barriers to entry. e. many firms in an industry with barriers to entry.
One effect of government mandating participation in the auto insurance market is it leads to:
A. lower premiums for all participants. B. the collapse of the market. C. higher premiums for all participants. D. free coverage for some participants.
Which of the following individuals would be considered unemployed by the official government definition?
a. George, a mathematician, who returned to graduate school after failing to find a job the last four months b. Gwen, a medical student, who is still in college and is not working c. Morgan, who is employed part-time but desires a full-time job d. Ralph, an auto worker who was laid off at a General Motors plant and is looking for another job