An argument in favor of free trade is that trade barriers prevent a nation from reaping the benefits of specialization.
Answer the following statement true (T) or false (F)
True
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The law of one price holds exactly only if there are transactions costs associated with buying a product in one location and selling it in another location
Indicate whether the statement is true or false
A third party is a person, or persons, who
a. consumes goods produced from at least two intermediate inputs b. avoids the transactions of the two principal parties c. takes risks to avoid externalities d. internalizes the costs of market failure e. is imposed upon by the activity of others
Supply-side tax cuts also tend to reduce aggregate demand and promote recession
a. True b. False Indicate whether the statement is true or false
The federal government facilitated suburbanization by providing _______________ and ___________________.
Fill in the blank(s) with the appropriate word(s).