Which of the following is not a source of comparative advantage?
A) technology B) climate and natural resources
C) a strong foreign currency exchange rate D) relative abundance of labor and capital
C
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Markets can be missing:
A. because a market is taxed. B. when the sale of a particular service is banned. C. when miscommunication of information between buyers and sellers leads to the wrong equilibrium price. D. All of these are true.
If average cost is falling, then marginal cost must be falling
a. True b. False Indicate whether the statement is true or false
All else held constant, which of the following is a necessary consequence of a depreciation of the U.S. dollar against other currencies?
A. U.S. exports will become cheaper relative to other nations' products. B. The terms of trade will move in favor of the United States. C. The United States will experience an increase in the volume of imports. D. International speculators will buy U.S. dollars and sell other currencies.
Suppose a social entrepreneur needs to raise money for a public good. He has to allocate his fund raising package to activities that persuade people of the importance of the public good and to activities that make people feel good about giving. As the population gets large, which of these do you think he will increasingly emphasize?
What will be an ideal response?