According to the principle of comparative advantage, all countries can benefit from trading with one another because trade allows each country to specialize in doing what it does best
a. True
b. False
Indicate whether the statement is true or false
True
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The IMF comprises of 50 member countries including all developed countries, and a few countries of Asia and Latin America
a. True b. False Indicate whether the statement is true or false
Suppose you were the president of the Dayton National Bank, the only bank in Dayton, Ohio. You wanted to borrow money from the Fed. You pick up the phone to ask the Fed what today's _____________ is because that's the rate the Fed charges member banks who borrow from it
a. prime rate b. federal funds rate c. discount rate d. federal reserve rate e. federal bank rate
Answer the following statement(s) true (T) or false (F)
1. Monopolistic competition is a market structure where many producers of identical products compete with one another 2. Monopolistic competition is closer to competition than to monopoly. 3. Product differentiation is the accentuation of unique product qualities, real or perceived, to develop a specific product identity. 4. Price is one of the four main types of product differentiation. 5. Physical differences are considered to be a primary source of product differentiation.
The main idea behind supply-side tax cuts is that
A. tax cuts increase spending, which increases aggregate supply. B. some tax cuts can increase aggregate supply. C. people like lower taxes and will spend more if they get them. D. it is easier to shift aggregate supply than aggregate demand.