The United States experienced depressions in all of the following decades except
A. the 1890s.
B. the 1920s.
C. the 1930s.
D. the 1950s.
D. the 1950s.
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Which of the following is correct about comparative advantage?
A) Some countries will have a comparative advantage in everything. B) A country has a comparative advantage in the production of a good if it can produce the good at lower opportunity cost than any other country. C) Having a comparative advantage without an absolute advantage is impossible. D) A comparative advantage in a good means that the country can produce more of the good than any other country. E) None of the above answers is correct.
Regardless of whether a negative externality is emitted by consumers or by producers, a Pigouvian tax can be imposed on consumers only.
Answer the following statement true (T) or false (F)
Higher unemployment tends to be associated with
A) the classical model. B) higher real GDP. C) higher nominal GDP. D) lower real GDP.
If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn
a. True b. False Indicate whether the statement is true or false