Which of the following shows how technological superiority can give a country a comparative advantage?
a. Brazil is the largest producer of coffee in the world, a position it has held for more than a century and a half.
b. During the 1970s, Japan’s production superiority led to it becoming the world leader in automobile exports.
c. With an estimated 10 million workers in the garment industry, China is the world’s largest exporter of clothing.
d. The vast Canadian forests were the source of its world-leading wood-product exports, including timber, pulp, and paper.
b. During the 1970s, Japan’s production superiority led to it becoming the world leader in automobile exports.
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A) rises; rises B) rises; falls C) rises; does not change D) falls; rises E) does not change; falls
Examining the conditions that could lead to inflation in an economy is an example of a microeconomics topic
Indicate whether the statement is true or false
According to Kenneth J. Arrow, what are the three conditions that any reasonable voting scheme should satisfy? What does Arrow's Impossibility Theorem state?
What will be an ideal response?
The CPI may overstate inflation for all the following reasons except
A) problems measuring changes in the quality of goods. B) substitution by consumers towards cheaper goods. C) problems measuring the quality of services. D) changes in Social Security benefits.