Which of the following is false?
a. Once a country has a comparative advantage in producing a good, that comparative advantage will always continue.
b. If you can mow the lawn at home faster than your younger brother, you have a comparative advantage over him in mowing the lawn.
c. Restrictions on trade will reduce people's degree of specialization according to comparative advantage
d. As practice at producing what you have a comparative advantage in makes you better at it, your comparative advantage would tend to increase.
a
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Income equality has
A) decreased in the United States as manufacturing has increased. B) narrowed within countries but increased across countries. C) increased within countries but has narrowed across countries. D) not changed in the advanced economies over the past 50 years. E) increased in developing economies as manufacturing has decreased.
Adam Smith revolutionized the way we think about economic growth with his celebrated book called _________ that was published in _________
a. Progress and Poverty; 1890 b. Capital; 1867 c. The Theory of Business Cycles; 1936 d. The Wealth of Nations; 1776 e. The Theory of Economic Growth; 1914