Globalization leads to a homogenizing of markets
Indicate whether the statement is true or false
False
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Search costs are the costs of finding, organizing, and motivating fellow victims so that bargaining can take place
Indicate whether the statement is true or false
The Great Depression changed the prevailing thinking about economics
a. True b. False Indicate whether the statement is true or false
Assume the United States and Australia have the same amount of resources. In a given time period, the United States can produce 2 tons of beef or 200,000 cars. Australia can produce 1 ton of beef or 100,000 cars. This means that
A. Australia has an absolute advantage in both beef and cars. B. The United States has a comparative advantage in beef. C. The United States has an absolute advantage in both beef and cars. D. Australia has a comparative advantage in cars.
The rate of inflation, excluding the effects of food and energy prices, is _____.
(A) Hyperinflation (B) The core inflation rate (C) The price index (D) The wage-price spiral