Explain comparative advantage
What will be an ideal response?
Comparative advantage is the advantage in the production of a product enjoyed by one country over another when that product can be produced at lower cost in terms of other goods foregone than it could be in the other country.
Economics
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National saving minus private saving is equal to
A) the government surplus. B) private disposable income. C) the current account deficit. D) interest on the government debt.
Economics
In the short-run, profits will only exist for monopolistically competitive firms
Indicate whether the statement is true or false
Economics