In general, for any two countries, there are many exchange rates that will lead to gains from trade, based on comparative advantage.
Answer the following statement true (T) or false (F)
True
Economics
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Marginal revenue product of labor measures the extra revenue generated to the firm from the employment of an additional worker
a. True b. False Indicate whether the statement is true or false
Economics
Firms entering a perfectly competitive industry will cause the price of the product to
a. fall. b. rise. c. remain constant. d. become more responsive to consumer demand.
Economics
The aggregate supply-aggregate demand model predicts that an unexpected increase in government spending will have what short-run effects?
What will be an ideal response?
Economics
OPEC is an example of a:
A. duopoly. B. monopoly. C. monopsony. D. cartel.
Economics