The comparative advantage in a specific good can shift over time from one country to another, as the other countries can produce it at a cheaper cost after imitating the technology
a. True
b. False
Indicate whether the statement is true or false
True
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Use the following graph to answer the next question.
The diagram shows the short-run average total cost curves for five different plant sizes of a firm. If in the long run the firm should produce output 0x, it should do it with a plant of size
A. #4. B. #3. C. #2. D. #1.
Consumers of most goods usually experience diminished satisfaction in each additional unit consumed. However, when variety appears endless, this may not be the case. Consider manufactured goods between 1890 and 1910
Indicate whether the statement is true or false
When sketched as a function of disposable income, the investment demand curve is:
a. always horizontal. b. always vertical. c. upward sloping. d. parabolic.
Assume the marginal tax rate is 10 percent for the first $30,000 of income, 15 percent for income between $30,000 and $70,000, and 20 percent for any income over $70,000. If Emily has taxable income equal to $80,000 for the year, what is her tax bill?
A. $16,000. B. $8,000. C. $12,000. D. $11,000.