If a nation has "cheap" labor,
A. it can still benefit from trade.
B. it is unlikely to have a comparative advantage in the production of goods that are highly capital intensive.
C. it cannot have a comparative advantage in everything.
D. all of the above are true.
D. all of the above are true.
it can still benefit from trade, it is unlikely to have a comparative advantage in the production of goods that are highly capital intensive, and it cannot have a comparative advantage in everything.
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In the aggregate demand and supply framework, an increase in the money supply will shift the aggregate
A) demand curve to the right. B) demand curve to the left. C) supply curve to the left. D) supply curve to the right.
Why is it that a monopolistically competitive firm cannot earn positive economic profits in the long run?
What will be an ideal response?
If the government runs an ad campaign to shame litterers, they are:
A. wasting a lot of money. B. trying to get individuals to internalize the negative externality created by their decision to litter. C. using protectionist policy to help the trash-collecting industry. D. All of these statements are true.
The phrase "to spread the overhead" refers to reducing the costs that are not directly attributable to the production process
a. True b. False Indicate whether the statement is true or false