Refer to Table 2-14. Ireland has a comparative advantage in the production of
A) both products. B) motorcycles. C) guitars. D) neither product.
C
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Honda will sell its vehicles to anyone who wants to and can buy one. Honda is using a ________ allocation method
A) first-come, first-served B) market price C) contest D) majority rule E) command
The role of the costs of capital is influenced by the degree to which firms can substitute capital for other inputs of production known as relative prices
Indicate whether the statement is true or false
Public schools are often homogenous because of neighborhood attendance boundaries
a. True b. False
If the marginal propensity to consume (MPC) is 0.90, a $100 increase in investment spending, other things being equal, will cause an increase in equilibrium real GDP of:
a. $90. b. $100. c. $900. d. $1,000.