The case for free trade is based on the
A. argument for a diversified economy.
B. theory of balanced growth.
C. theory of comparative advantage.
D. theory of absolute advantage.
Answer: C
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What is the relationship between the marginal revenue curve and the demand curve for a single-price monopoly?
What will be an ideal response?
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A) 0.1 B) -0.375 C) 3 D) -3
Revenue equivalence ________ hold when the item being auctioned has independent private values and ________ hold when the item being auctioned has a common value.
A) does not; does not B) does; does not C) does; does D) does not; does
Which of the following will be required for a country to move up the income ladder and achieve high-income status?
a. rapid growth of the money supply. b. restrictions limiting the import of goods from other nations, particularly low-wage countries. c. tax incentives that encourage consumption rather than investment d. sustained economic growth