The government purchases multiplier will be larger if the marginal income tax rate decreases

If good A had twice as many good substitutes as good B, but good B consumed twice the amount of a buyers income as good A, goods A and B would have the same elasticity of demand

a. True b. False Indicate whether the statement is true or false

Colombia produces coffee with less labor and land than any other country. This implies that it has:

a. a comparative advantage in coffee production. b. a perfectly elastic demand curve for coffee. c. a perfectly inelastic supply curve of coffee. d. an absolute advantage in coffee production.