If South Korea has an absolute advantage in the production of an item, it must also have a comparative advantage in the production of that item.
Answer the following statement true (T) or false (F)
False
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Refer to the scenario above. Infi Cor
A) $31 billion B) $21 billion C) $12 billion D) $9 billion
Foreign purchases of stocks and bonds issued by U.S. corporations ________ between 1995 and 2007 and ________ in 2014
A) decreased slightly; increased slightly B) increased at a slow but steady pace; increased dramatically C) remained stagnant; declined sharply D) increased dramatically; declined
A market shortage occurs if the quantity:
A) demanded is greater than the quantity supplied. B) demanded is less than the quantity supplied. C) demanded is equal to the quantity supplied. D) supplied is greater than the quantity demanded.
In the U.S. economy, services account for over half of all consumer expenditures.
Answer the following statement true (T) or false (F)