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
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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.
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.
Income is considered to be a
A) nontaxable stream of funds. B) flow. C) stock. D) resource.
Payments made to shareholders of a corporation are called
A. dividends. B. corporate bonds. C. retained earnings. D. common stock.