Both the classical and the HO model predict that the pattern of trade is determined largely by international differences in factor endowments
Indicate whether the statement is true or false
FALSE
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According to Classical economists, investment is __________ related to the __________
A) directly; interest rate B) directly; level of GDP C) inversely; interest rate D) inversely; level of GDP
Which of the following is NOT an economic resource?
A) money B) low-skilled labor C) coal D) an engineer
To an economist, money is a synonym for which of the following?
A) income B) credit C) wealth D) salary E) none of the above
This table represents the revenues faced by a monopolist. PriceQuantity SoldTotal RevenueAverage RevenueMarginal Revenue$1,0001$1,000 $9002$1,800 $8003$2,400 $7004$2,800 $6005$3,000 $5006$3,000 $4007$2,800 Using the information in the table shown, the marginal revenue of the 6th unit is:
A. $0 B. $500. C. -$200 D. $3,000.