Free trade will affect a country's employment in different industries.
Answer the following statement true (T) or false (F)
True
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If additional units of a good could be produced at an increasing opportunity cost, the production possibilities frontier would be linear
Indicate whether the statement is true or false
When a firm has an accounting profit that is negative, it
A) will never produce output, even in the short run. B) may still have economic profit. C) has total revenue that is less than total cost. D) cannot be producing where price equals marginal cost.
A production possibilities frontier is a line or curve that:
A. shows all the possible combinations of outputs that can be produced using all available resources. B. shows what can be produced when all available resources are efficiently used. C. shows the best combinations of outputs that can be produced using all available resources. D. explains why societies make the choices they do.
Which two countries ran substantial trade surpluses for most of the last three decades?
a. Germany and Russia b. Russia and Japan c. Germany and Japan d. Germany and Mexico