Answer the following statements true (T) or false (F)
1.If Argentina has a comparative advantage over Brazil in beef relative to coffee, Argentina will specialize in beef production.
2.Modern trade theory recognizes that the pattern of world trade is governed by both demand conditions and supply conditions.
3.In autarky equilibrium, a nation realizes the lowest possible level of satisfaction given the constraint of its production possibilities frontier.
4.A nation benefits from international trade if it can achieve a higher indifference curve than it can in autarky.
5.A nation realizes maximum gains from trade at the point where the international terms-of-trade line is tangent to its community indifference curve.
1.True
2.True
3.False
4.True
5.True
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Luca and Emma were shopping for their first house. They both felt a little overwhelmed with this task. Emma decided to make a list of the most important features they wanted in a home, narrowing their options to a list of two bedroom homes in the downtown area that include outdoor space. Luca and Emma used ______ rationality to make the decision.
A. bounded B. satisfactory C. complete D. representative
The Treaty Establishing the European Community and the ________ of 2010 are the principal sources of law in the EU, pertaining to business between and among its member states
A. Multilateral Agreement on Investment B. Lisbon Treaty C. Trade and Investment Framework Agreement D. Free Trade Agreement
Specific performance is the remedy customarily used when one party has breached a contract for the sale of goods.
Answer the following statement true (T) or false (F)
Reducing the face amount of dwelling protection is an example of risk transfer
Indicate whether the statement is true or false