A development strategy of import substitution eliminates the gains from specialization and comparative advantage in production among countries
Indicate whether the statement is true or false
true
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A firm can always increase its output by one unit at a marginal cost of $10. Its marginal cost curve is
A. a horizontal line. B. a vertical line. C. a ray with slope equal to 10. D. exactly one-tenth as steep as its total cost curve.
If a country had a real GDP of $500 million, and the GDP deflator was110, what is the nominal GDP?
a. $440 million b. $540 million c. $450 million d. $550 billion
You own shares in a start-up internet company. If large swings in the stock market increase financial investors' concerns about market risk, then the price of your shares will ________, holding other factors constant.
A. either increase or decrease B. increase C. not change D. decrease
Which of the following can be used as money?
A. checks B. cigarettes C. precious stones D. All of these