Even if some people are hurt by international trade, the HO model predicts that free international trade improves the standard of living for the country as a whole
Indicate whether the statement is true or false
TRUE
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Net exports is a positive number when a nation ________.
A. simply exports goods and services to other nations B. exports more goods and services than it imports C. exports fewer goods and services than it imports D. increases its exports of goods and services
In the above figure, starting at E3, if there is an increase in technology that causes a permanent increase in production capabilities
A) aggregate supply would shift to SRAS0 and LRAS1 would shift to LRAS0. B) aggregate supply would shift to SRAS2 and LRAS0 would shift to LRAS1. C) aggregate supply would shift to SRAS1 and LRAS0 would shift to LRAS1. D) aggregate supply would shift to SRAS1 and then return to SRAS0.
An oral auction
a. is also called a Vickrey auction b. is where bidders submit increasing bids until all but one remains c. is where the highest bidder wins and pays the amount of the next highest bid d. all of the above
The incidence of a payroll tax is borne by both employers and employees
a. True b. False Indicate whether the statement is true or false