The comparable access argument for import restrictions is a more valid economic argument for products using small-scale technology than for products requiring substantial economies of scale to be competitive.
a. true
b. false
b. false
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Which of the following is true regarding a normative statement?
i. It uses the ceteris paribus assumption. ii. It is a value judgment. iii. It accounts for opportunity costs. A) i and iii B) ii and iii C) i only D) ii only E) i, ii, and iii
If products similar to the intermediate good are sold, an approximation to the correct transfer price is
a. average costs b. average fixed costs c. average variable costs d. the market price
Taxes paid by companies on profits are corporate income taxes
a. True b. False Indicate whether the statement is true or false
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the civilian labor force is
a. 30. b. 60. c. 85. d. 90. e. 70.