An inefficient manufacturing base is likely to result when:
a. only those goods are produced in which the domestic economy has a comparative advantage.
b. a newly developing economy has no international trade controls.
c. competitive foreign imports are restricted.
d. the economy produces only those goods in which it has technical expertise.
e. producers compete solely on the basis of low cost.
c
Economics
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Refer to Table 19-12. Consider the following data on nominal GDP and real GDP (values are in billions of dollars): The base year used in calculating real GDP is
A) 2013. B) 2014. C) 2015. D) 2016.
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Inflation is costly only if it is unanticipated
a. True b. False Indicate whether the statement is true or false
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