If the MPC is 0.6, then the MPS must be 0.4 for Macroland
Indicate whether the statement is true or false
T
Economics
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What term is used to describe situations where countries specialize in and trade different varieties of the same type of product?
a. comparative advantage b. the Heckscher-Ohlin model c. intra-industry trade d. increasing returns to scale
Economics
Tom's consumption possibilities is defined by
A) his income and the prices of the goods that he consumes. B) his preferences for consumption of the goods that he consumes. C) the prices of the goods that he consumes only. D) his income only.
Economics