Acquired comparative advantage comes from factor endowments.
Answer the following statement true (T) or false (F)
False
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The Fed is concerned about inflation. Its policy will ________ U.S. short-term interest rates and, in the foreign exchange market, lead to the value of the U.S. dollar ________
A) lower; rising B) lower; not changing C) raise; rising D) lower; falling E) raise; not changing
_____________ advantage can be the result of a country’s natural endowment.
a. Absolute b. Real c. Focused d. Micro
What does willingness to pay measure?
a) the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it b) the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept c) the maximum amount a buyer is willing to pay minus the minimum amount a seller is willing to accept d) the maximum amount that a buyer will pay for a good
The amount of a particular good that sellers in a market will sell at a given price during a specified period is called:
A. quantity supplied. B. demand. C. supply. D. quantity demanded.