A country that creates competitive advantage where there are not comparative advantages misallocates its resources and has lower national well being

Indicate whether the statement is true or false


TRUE

Economics

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President Clinton, at the beginning of his administration, increased personal income taxes on individuals with relatively high incomes. How will this change the consumption schedule?

A. It will shift and become steeper. B. It will shift and become flatter. C. It will shift in a parallel manner. D. It will remain fixed as the economy moves along the schedule.

Economics

Compensation paid in proportion to the number of units of personal output best describes:

A. royalties. B. profit-sharing. C. bonuses. D. piece rates.

Economics

Explain the barriers to effective communications, including problems with communicating electronically.

What will be an ideal response?

Economics

The graph below depicts long-run supply for:




A. A constant-cost industry
B. A decreasing-cost industry
C. An increasing-cost industry
D. None of these

Economics