Technological advancements and changes in factor proportions shift a producer's comparative advantage
Indicate whether the statement is true or false
True
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Classical economists thought that
A. flexible wages and prices were the principal causes of recessions. B. the Great Depression confirmed their view of the business cycle. C. government policies and spending were needed to keep the economy at full employment. D. ?price, wage, and interest rate flexibility can quickly cure any tendencies for a recession.
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket rises from $20 to $38
A) only three tickets will be sold. B) no one will buy a ticket. C) consumer surplus decreases from $62 to $12. D) consumer surplus increases from $88 to $142.
Refer to Scenario 1. Is the slope coefficient statistically different from zero?
A) No. B) Yes. C) Inconclusive. D) None of the above.
Imagine that Wingate National is a new bank, and that the legal reserve requirement is 10 percent. If it accepts a $1,000 deposit, then its required reserves balance is
a. $0 b. $90 c. $100 d. $900 e. $910