When a country allows trade and becomes an exporter of goods, producers gain more than consumers lose
a. True
b. False
Indicate whether the statement is true or false
True
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In a two-nation world, comparative advantage in the production of a particular product means that one nation can produce
A. the product at a lower domestic opportunity cost than the other nation. B. more of the product than the other nation. C. the product with fewer inputs than the other nation. D. the product at lower average cost than the other nation.
In the figure above, at the point where the price is $60 per bunch, the price elasticity of supply is
A) 1.8 B) 0.56 C) 1 D) 1.5 E) 0
Bonds are often referred to as fixed-income securities because:
A. of the set interest rate. B. they are much more commonly held by retirees. C. they adjust interest payments with the inflation rate. D. the price you pay for bonds is fixed.
In reality, there is not one labor market, but many
a. True b. False Indicate whether the statement is true or false