Answer the following questions true (T) or false (F)
1. Comparative advantage is a monetary concept and is affected by changes in exchange rates or inflation.
2. Comparative advantage based on nonmarket factors are dependent on politics rather than economics for sustained existence.
3. A tariff-rate quota limits the quantity of a good imported just like an import quota.
1. FALSE
2. TRUE
3. FALSE
You might also like to view...
In 2003, the federal budget deficit was about _____ percent of gross domestic product
a. three b. zero c. seven d. ten
Fiscal policy refers to
A) efforts to balance a government's budget. B) changes in the money supply to achieve particular economic goals. C) changes in government expenditures and taxation to achieve particular economic goals. D) the change in private expenditures that occurs as a consequence of changes in government spending.