The United States has no comparative advantage in shipping, so a domestic shipping industry has no reason to exist
a. True
b. False
Indicate whether the statement is true or false
False
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An agreement to exchange dollar bank deposits for euro bank deposits in one month is a
A) spot transaction. B) future transaction. C) forward transaction. D) deposit transaction.
Producer surplus from a unit of output is the difference between the market price and the seller's cost of producing that unit
a. True b. False Indicate whether the statement is true or false
Minimum-wage laws are precise policy instruments that can specifically target workers whose family incomes are low
a. True b. False Indicate whether the statement is true or false
Refer to Figure 2-10. If the economy moves from point C to point B, then which of the following statements is correct?
a. The economy benefited from a technological advance in the production of baseballs. b. The opportunity cost of each additional baseball is 2 bananas. c. The opportunity cost of each additional banana is 2 baseballs. d. The move involves no opportunity cost; it simply reflects the desires of the economy's citizens.