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
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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.
Compensation paid in proportion to the number of units of personal output best describes:
A. royalties. B. profit-sharing. C. bonuses. D. piece rates.
Explain the barriers to effective communications, including problems with communicating electronically.
What will be an ideal response?
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