If exchange rates end up in the right ranges, the free market will drive each country to shift resources into those sectors in which it enjoys a comparative advantage.
Answer the following statement true (T) or false (F)
True
Economics
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When real GDP falls for two consecutive quarters the economy is in a
A) peak. B) trough. C) recession. D) depression.
Economics
The category of resources economists call "land" refers to all of the following, except:
a. natural gas. b. animals. c. oceans. d. minerals. e. buildings.
Economics
Figure 8.8 shows demand, marginal revenue, and costs of a duopolist. If the two duopolists have the same costs and split the market equally, each profit-maximizing duopolist will earn a profit of ________.
A. $30,000 B. $15,000 C. $10,000 D. $0
Economics
Microeconomics is concerned with
A. individual prices. B. price level stability. C. economic growth. D. unemployment.
Economics