Many economists believe that the collapse of world trade and the depression in the 1930s were linked by a decrease in real income caused by producing on the basis of comparative advantage
a. True
b. False
Indicate whether the statement is true or false
False
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Disposable personal income is defined as
A) personal income less personal taxes. B) personal income less personal taxes plus indirect sales taxes. C) personal income less transfer payments plus personal taxes. D) personal income less depreciation.
A supermarket sells you a pound of coffee on the condition that you buy a gallon of milk. This is an example of
a. Bundling b. Tie in Sale c. Price Discounting d. Both a and b
If the real interest rate is below equilibrium, which of the following is likely to occur? a. Lenders will raise their interest rates which will encourage saving
b. Lenders will raise their interest rates which will encourage borrowing. c. Lenders will lower their interest rates which will encourage saving. d. Lenders will lower their interest rates which will encourage borrowing.
Which of the following would increase the demand for labor? (i) a decrease in the output price (ii) an increase in the output price (iii) a labor-saving technological advance (iv) a labor-augmenting technological advance
a. (i) only b. (i) and (iii) only c. (ii) only d. (ii) and (iv) only