Export promotion policies try to encourage firms to produce more of the products for which the country has a comparative advantage.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
"Because the United States is the largest economy in the world and can produce anything it needs domestically, there are no gains from trade for the United States." Is the previous statement correct or incorrect?
What will be an ideal response?
Firms maintain their completive edge by
a. Providing a good at lower costs than their rivals b. Providing a superior product at the same cost as your rival c. Being innovative d. All the above
The marginal product of an input is equal to the change in total product resulting from a one-unit increase in the quantity of that input.
Answer the following statement true (T) or false (F)