The theory of comparative advantage suggests that a (an)
country specialize in producing goods or services for which it has lower opportunity cost
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If your assets are highly liquid, this means you can make transactions on short notice
Indicate whether the statement is true or false
The school of economic thought which argues that through tax reductions, and deregulation, government creates the proper incentives for the private sector to increase aggregate supply is known as the:
a. rational expectations school. b. neo-Keynesian school. c. supply-side school. d. new classical school. e. classical school.
Fred has lost his factory job, replaced by welding robots, and soon plans to go to technical school to learn computer repair because he cannot find a similar job to the one he lost. The type of unemployment facing Fred is: a. frictional. b. structural. c. cyclical
d. natural.
To calculate real GDP, an index number of ______ is assigned to some base year.
a. 25 b. 50 c. 100 d. 150