Offshoring became a concern in the 1980s when modern communication and transport technology made it possible for firms to relocate production abroad
Indicate whether the statement is true or false
TRUE
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In the figure above, what happens to total revenue as we move from point A to point B?
A) It increases. B) It decreases. C) It remains constant. D) It becomes negative. E) More information about the elasticity of demand is needed to determine if it increases, decreases, or does not change.
According to Adam Smith, a country should produce all goods at home that it can, even if it could buy those goods at a lower cost from other countries t/f
a. true b. false
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point E necessarily represents
A. only motorcycles being produced. B. overallocation of resources. C. an impossible production point. D. technological advancement.
In the new Keynesian model, if an aggregate demand increase is anticipated, then ________
A) aggregate demand will not change B) short-run aggregate supply will shift up immediately C) short-run aggregate supply will shift down immediately D) there is no immediate effect on the short-run supply curve