Which economist introduced the simple trade model and the concept of trade based on comparative advantage?
What will be an ideal response?
David Ricardo
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In the long run, an increase in the quantity of money, other things remaining the same,
A) decreases the price level. B) increases real GDP. C) increases the price level. D) decreases real GDP. E) has no effect on the price level or real GDP.
Which of the following may be used by a plumber's union or a medical professional association to restrict membership?
a. all of the following are correct b. long apprenticeship periods c. difficult qualification exams d. stringent education standards e. high initiation fees
Tariffs are considered to be a popular tax in the first world countries who justify them on the basis of the revenue they generate for government spending
a. True b. False Indicate whether the statement is true or false
?Kites /hourSnowboards /hourJesse81April123
Based on the data in Table 3.1:
A. April should specialize in painting kites and trade for snowboards. B. April should specialize in painting snowboards and trade for kites. C. Jesse should specialize in both goods. D. April should specialize in both goods.