High wage countries like the United States tend to use less labor-intensive production methods than low wage countries like Mexico
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the next question using the following budget information for a hypothetical economy. Assume that all budget surpluses are used to pay down the public debt. Government SpendingTax RevenuesGDPYear 1$450$425$2,000Year 25004503,000Year 36005004,000Year 46406205,000Year 56805804,800Year 66006205,000If year 1 is the first year of this nation's existence and year 4 is the present year, the public debt as a percentage of GDP in year 4 is
A. 3.9%. B. 2.5%. C. 1.39%. D. 7.5%.
If you take out a bank loan prior to unanticipated inflation
A) your bank will gain at your expense. B) you will gain at the expense of your bank. C) it will be harder for you to repay the loan because of the inflated dollar. D) neither you nor your bank will be affected, because the loan was made prior to the inflation.
Which of the following is NOT an example of a backup line of credit?
A) loan commitments B) overdraft privileges C) standby letters of credit D) mortgages
If someone asked you to predict the price of gas in a month, and you decided to just guess by adding a few cents to the current price of gas, which you know, your answer would exhibit:
A. anchoring. B. time inconsistency. C. rational expectations. D. transitivity.