As a result of trade, specialization in the Ricardian model tends to be
A) complete with constant costs and with increasing costs.
B) complete with constant costs and incomplete with increasing costs.
C) incomplete with constant costs and complete with increasing costs.
D) incomplete with constant costs and incomplete with increasing costs.
E) dependent on the specific opportunity costs involved in production.
B
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Real GDP per capita
A. necessarily grows more rapidly than real GDP. B. cannot grow more slowly than real GDP. C. cannot grow more rapidly than real GDP. D. can grow either more slowly or more rapidly than real GDP.
If a monopolist were allowed (and able) to first degree price discrimination, there would be no efficiency/equity tradeoff so long as the government can tax the profits of the firm and redistribute the tax revenues in a lump sum way.
Answer the following statement true (T) or false (F)
Critics of advertising argue that firms use advertising to manipulate consumers' tastes
a. True b. False Indicate whether the statement is true or false
The long-run Phillips curve would shift to the left if
a. the money supply growth rate increased or if effective job-training programs were implemented. b. the money supply growth rate increased, but not if effective job-training programs were implemented. c. effective job-training programs were implemented, but not if the money supply growth rate increased. d. None of the above is correct.