A country should always specialize in the production of any product for which it holds an absolute advantage
Indicate whether the statement is true or false
F
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A graph of the value of one variable against the value of another variable is known as a
A) two-dimensional graph. B) three-dimensional graph. C) time-series graph. D) scatter diagram. E) two-variable graph.
If the marginal social benefit of pizza exceeds the marginal social cost of pizza, the economy is producing the efficient quantity of pizza
Indicate whether the statement is true or false
The demand curve for a particular stock at any point in time is
A) very inelastic but not infinitely so. B) almost infinitely inelastic. C) infinitely elastic. D) fairly elastic but not infinitely elastic.
New classical economists contend that an unexpected increase in the money supply will:
a. increase the unemployment rate in the short run. b. reduce the unemployment rate in the short run. c. cause no short-run change in the unemployment rate. d. reduce the unemployment rate in the long run. e. increase the unemployment rate in the long run.