A country must have absolute advantage in a good in order to have comparative advantage in that good

Indicate whether the statement is true or false


FALSE

Economics

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Unions can ration the excess supply of labor generated by the establishment of a wage that is above the competitive wage by

A) lengthening the time period for apprenticeship programs. B) lowering union dues. C) encouraging older workers to take early retirement. D) having more intensive membership drives to ensure a larger proportion of workers are covered by the union contract.

Economics

If the inflation rate exceeds the nominal rate of interest,

a. the real interest rate is negative. b. lenders lose. c. savers lose. d. all of these.

Economics

Income is considered to be a

A) nontaxable stream of funds. B) flow. C) stock. D) resource.

Economics

Payments made to shareholders of a corporation are called

A. dividends. B. corporate bonds. C. retained earnings. D. common stock.

Economics