An asset's specificity can be measured in terms of the percentage of its cost that can be recovered if it is redeployed into its next most valuable use
Indicate whether the statement is true or false
T
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Which of the following statements is true about comparative advantage?
a. Comparative advantage exists whenever one person, firm, or nation can do something at higher opportunity costs than some other individual, firm, or nation. b. Comparative advantage is interesting theoretically, but it is not relevant when evaluating real-world economic conditions. c. Low income countries cannot possibly have a comparative advantage in the production of any good or service because of the relatively low literacy rate. d. Comparative advantage exists whenever one person, firm, or nation can do something at lower opportunity costs than some other individual, firm, or nation. e. Only technologically advanced economies can have a comparative advantage in the production of a good or service.
China has experienced particularly high rates of economic growth as a result of
A. High rates of government spending. B. High rates of capital investment. C. High rates of consumer spending. D. Low rates of saving.
The Great Depression lead many to question the economy’s ability to self-correct.
Answer the following statement true (T) or false (F)
An increase in the marginal propensity to save from .3 to .4 will cause
A) the ZZ line to become steeper and a given change in autonomous consumption (c0 ) to have a smaller effect on output. B) the ZZ line to become steeper and a given change in autonomous consumption (c0 ) to have a larger effect on output. C) the ZZ line to become flatter and a given change in autonomous consumption (c0 )) to have a smaller effect on output. D) the ZZ line to become flatter and a given change in autonomous consumption (c0 ) to have a larger effect on output.