If a country does not have an absolute advantage in the production of at least one commodity, then it cannot gain from free trade.
Answer the following statement true (T) or false (F)
False
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A "household" refers to people related by blood or marriage
Indicate whether the statement is true or false
What happens in public schools when government funds subsidize education?
A) There is a shortage of schools. B) The quality of education rises. C) The cost of providing the education is less than what the student pays. D) The cost of providing the education is more than what the students pays.
Jackson hates to work. He receives a great deal of enjoyment from leisure time. Jackson's elasticity of labor supply is
A. 1. B. Low, perhaps even negative. C. Highly negative. D. High.
In terms of individual nations, the largest U.S. trade deficit is with:
A. Japan. B. Mexico. C. China. D. Canada.