The Interstate Commerce Commission (ICC) was established in 1887 to regulate:

Suppose a new cost-saving device will forever generate $1,000 net savings per year to a firm. The device costs $10,000. Using the Internal Rate of Return approach, will the firm make the investment?

A) definitely B) definitely not C) if the interest rate exceeds 10% D) if the interest rate is less than 10%

The standard interpretation of the Ricardian model is that differences in factor endowments between countries account for differences in labor productivity

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