If Finland has an absolute advantage in the production of two goods compared to Latvia, Finland can still benefit from trade with Latvia
Indicate whether the statement is true or false
TRUE
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Adam Smith noted that people are adept at which of the following?
A. Confusing themselves if given the chance. B. Proving the truth of “Murphy’s Law.” C. Denying themselves for the sake of others. D. Pursuing their own self-interest. E. All of the responses are correct.
At its most basic level, economic growth depends on
A) creating the right incentives. B) saving by the government. C) government leadershi
If the consumption function can be described as C = 200 + .80Y, the marginal propensity to save is equal to
A) -0.80. B) 0.80. C) 0.20. D) 200.
Monetizing the debt is a way of turning debt into money and reducing the burden of the debt
a. True b. False Indicate whether the statement is true or false