According to the international trade theory, a country should import goods in which it has an absolute advantage
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Which of the following statements is true?
A) It is easier for a person to optimize when he has less information. B) Optimization implies choosing the best option from a set of alternatives. C) People always successfully optimize given the limited information they have. D) Optimization is an easy process, and all economic agents are perfect optimizers.
Economics
Based on Figure 4.1, food is:
A) a normal good. B) an inferior good, but not a Giffen good. C) a Giffen good. D) none of the above
Economics