The product life cycle theory of comparative advantage predicts that a new product will be first produced and exported by:
a. the nation that first demanded the new product.
b. the first firm to successfully copy the technology.
c. the nation in which it was invented.
d. the countries with the most stable economies and the fewest restrictions on foreign trade.
e. the company with the most extensive network of international distributors for the product.
c
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Any change that causes a decrease in the demand for labor at a given wage rate will be represented by a(n) ________, assuming all else equal
A) rightward shift in the labor demand curve B) downward movement along the labor demand curve C) upward movement along the labor demand curve D) leftward shift in the labor demand curve
Tax expenditures can be viewed as government spending through the tax code
a. True b. False
Vertical equity in income taxation refers to the notion that persons with different levels of income should be taxed differently
a. True b. False Indicate whether the statement is true or false
A government using fiscal policy in an attempt to stimulate the economy would do which of the following?
What will be an ideal response?