A price control always benefits consumers
a. True
b. False
Indicate whether the statement is true or false
False
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For a person to have a comparative advantage in producing a product, she must be able to produce that product at a lower opportunity cost than her competitors
Indicate whether the statement is true or false
Which of the following is true?
a. in recent decades, the rich countries of the world have consistently grown more rapidly than poor countries. b. no LDC was able to achieve a more rapid growth rate than the United States during the 1980 through 2005 period. c. during recent decades, most LDCs have stagnated economically. d. during 1980 through 2005, the fastest growing countries in the world were mostly LDCs.
Where does the United States stand as a participant in international trade?
(A) It is the largest exporter and importer. (B) It is the largest exporter but not the largest importer. (C) It is the largest importer but not the largest exporter. (D) It is the second largest importer and exporter.
One thing that has reduced the U.S. rate of inflation since 1945 has been
A. recessions. B. wars. C. large federal budget deficits. D. rapid growth in the money supply.