Interindustry trade is not based on comparative advantage since it consists of the export and import of similar goods
Indicate whether the statement is true or false
FALSE
You might also like to view...
Refer to Budget Lines. If the consumer purchased basket B last year and purchases basket C this year, we can conclude that
a. the consumer is not behaving optimally.
b. the consumer's tastes changed between this year and last year.
c. the consumer's indifference curves cannot be convex.
d. the law of demand does not hold for this consumer.
If the economy is in equilibrium and suddenly the level of planned investment increases by $2 billion, national income will increase by
a. $2 billion and stabilize at that level. b. less than $2 billion because of MPS. c. more than $2 billion because of MPC. d. less than $2 billion because of MPC.
When a manager makes decision then looks for information to justify the decision, it is called
a. implicit favorite model b. bounded rationality model c. econological model d. none of the above
The civilian labor force consists of:
A. all civilians over the age of 16. B. the employed plus the unemployed who are not in the military. C. only individuals who are actually at work during a given week. D. civilians who are not in prisons or mental hospitals.