The HO theorem states that a country will have comparative advantage in the good whose production is relatively intensive in the ________ with which the country is relatively abundant
A) tastes
B) technology
C) factor
D) opportunity costs
C
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The difference between the gross public debt and the net public debt is
A) the sum of all previously accumulated government budget deficits and surpluses. B) the sum of all previously issued U.S. government securities that have been purchased by foreign residents. C) all private-sector borrowing from private sources. D) all government interagency borrowing.
In the loanable funds market, if the interest rate is above the equilibrium level
A) there is a shortage of loanable funds. B) there is a surplus of loanable funds. C) expected profit falls. D) government expenditure decreases.
If the total revenue curve lies completely below the total cost curve, economic profit is zero
a. True b. False
A series of pro-labor laws were enacted by President Roosevelt and the U.S. Congress primarily as a result of the plight of workers during the Great Depression
Indicate whether the statement is true or false