Adam Smith created the theory of comparative advantage

Indicate whether the statement is true or false


FALSE

Economics

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A public debt that is owed to foreigners can be burdensome because

A. the payment of interest will necessarily have a deflationary effect on prices in the paying nation. B. the payment of interest will conflict with a nation's foreign aid programs. C. the payment of interest reduces the volume of goods and services available for domestic uses. D. foreign interest rates are persistently higher than domestic interest rates.

Economics

Refer to Scenario 10.9. At the profit maximizing level of output, what is the level of consumer surplus?

A) 0 B) 1,800 C) 2,700 D) 3,600 E) 4,800

Economics

Cartels are inherently unstable

a. True b. False

Economics

Other things the same, we'd expect that a job with less pleasant working conditions pays

a. more; this is known as an efficiency wage. b. more; this is known as a compensating differential. c. less; this is known as an efficiency wage. d. less; this is known as a compensating differential.

Economics