Being the low price seller in the market is
A) the best place to be.
B) not necessarily the best place to be.
C) expected of large firms as they are subject to economies of scale.
D) not as preferred as being the high price seller in the market.
B
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A country has a current account deficit of -$100 billion. This implies that ________
A) payments to foreigners exceed payments received from foreigners B) its exports exceed its imports by $100 billion C) net factor payments from abroad is positive D) net transfers from abroad is positive
John can make pizza at a lower opportunity cost than Allen, but Allen can make more pizzas per day than John. Therefore,
A) John has an absolute advantage in pizza. B) Allen cannot benefit from trade with John. C) John has a comparative advantage in pizza. D) John cannot benefit from trade with Allen. E) Allen has a comparative advantage in pizza.
An economic boom in one country usually causes a recession in other countries
a. True b. False Indicate whether the statement is true or false
Both M1 and M2 are monetary values much larger than nominal GDP
a. True b. False Indicate whether the statement is true or false