Natural comparative advantage comes from factor endowments.
Answer the following statement true (T) or false (F)
True
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Combinations to the right of the budget line are:
A. Efficient B. Attainable C. Inconsequential D. Unattainable
Consumers lose when a market is served by a monopolist to the extent that units of output for which the price consumers are willing to pay exceeds the marginal costs of production are not produced
Indicate whether the statement is true or false
If the Fed sells a U.S. government bond to a bank, what is the effect on the money supply? a. It will increase
b. It will not change. c. It will decrease. d. It will be uncertain.
An increase in the price of labor used to produce good A will lead to
A. an increase in the demand for good A. B. an increase in the market clearing price of good A. C. an increase in the supply of good A. D. a decrease in the demand for good A.