OLI theory is a direct contradiction of trade theory, especially trade theory based on comparative advantage
Indicate whether the statement is true or false
FALSE
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A network externality is:
A. a direct effect on an economic decision maker. B. an indirect effect on an economic decision maker. C. the effect that an additional user of a good or participant in an activity has on the value of that good or activity for others. D. an uncompensated effect on someone other than the person who caused it.
A higher U.S. federal budget deficit may act to raise future U.S. interest payments to foreigners
a. True b. False Indicate whether the statement is true or false
Suppose that a firm chose an output level where the total cost and total revenue curves intersect. At this level of output,
a. the firm is maximizing profits b. the firm is minimizing losses c. profit is zero d. total revenue is maximized e. total cost is minimized
The World Bank defines severe poverty as
A. An income level of less than $3.10 per person per day. B. An income level that does not allow an individual to buy basic necessities. C. An income level of less than $1.25 per person per day. D. An extreme lack of food.