If countries have similar factors of production and similar productivities, most of their trade is likely to be intraindustry

Indicate whether the statement is true or false


TRUE

Economics

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The inability of the Federal Reserve to explain movements in M1 demand has led to

A) less emphasis on money growth as a policy tool. B) the Federal Reserve's targeting V1 growth more closely. C) the Federal Reserve's switching to M2 and M3 targets. D) All of the above.

Economics

If a small percentage change in price causes a larger percentage change in the quantity demanded, the good has:

A. an elastic demand. B. an inelastic demand. C. a high magnitude of response. D. a low magnitude of response.

Economics

Suppose when the price of laptops fall, college students buy more laptops. This implies that

A) there is a positive relationship between laptop prices and quantities purchased by college students. B) there is a negative relationship between laptop prices and quantities purchased by college students. C) there is a direct relationship between laptop prices and quantities purchased by college students. D) there is a one-to-one relationship between laptop prices and quantities purchased by college students.

Economics

The demand curve faced by a nondiscriminating pure monopoly is ________.

A. horizontal B. derived by vertically summing the buyers' individual demand curves C. the same as the industry's demand curve D. more elastic than the demand curve faced by a perfectly competitive firm

Economics