A country may gain a temporary comparative advantage if it:
A. remains self-sufficient until it stockpiles enough inventory to supply the world.
B. is the first to discover and implement a new technology or production process.
C. remains a political ally to all.
D. All of these are true.
B. is the first to discover and implement a new technology or production process.
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Entry leads to reduced firm profits because it leads to a lower price.
Answer the following statement true (T) or false (F)
When the Fed wants to signal the public about the direction of monetary policy, it will likely use
A) a change in the discount rate. B) open market operations. C) a change in the reserve requirement. D) a public announcement about a change in the targeted federal funds rate. E) all of the above
The Lawn Ranger, a landscaping company, has total costs of $5,000 and total fixed costs of $3,000. The Lawn Ranger's total variable costs are
A. $2,000. B. $3,000. C. $5,000. D. indeterminate because the firm's output level is not known.
The monetary base is equal to
A. M2 minus M1. B. banks' reserves plus currency held by the nonbank public. C. banks' reserves plus their holdings of Treasury securities. D. banks' reserves plus fed funds.