The way in which growth occurs affects the pattern of trade of a country
Indicate whether the statement is true or false
TRUE
You might also like to view...
Suppose notebooks are produced by a competitive constant-cost industry. Which of the following must cause Nanna's Notebooks to exit the industry in the long run?
a. Nanna's is notified of a rent increase, but her competitors' rents are unchanged. b. A fire destroys half of Nanna's inventory. c. A photographer wins a $10,000 judgment from a lawsuit charging that Nanna's used his photos on notebook covers without permission. d. The price of cardboard used in notebook production rises.
The New York Times reported in August 1997 that over one-third of all bottled water sold in the United States is simply filtered tap water. For example, the Everest brand of water comes from the municipal water supply of Corpus Christi, Texas. Explain
why consumers will pay more than $1 for a quart of water, when they could get basically the same quart directly from the tap for the smallest fraction of a penny.
The combination of low income elasticity of demand for food and high agricultural productivity leads to the demand for food increasing and the supply of food increasing even more, which has lead to rising prices of food
Indicate whether the statement is true or false
What do economists call something that encourages an action by increasing its benefits or reducing its costs?
b. a market externality a. a positive incentive c. a rational choice d. an economic good