Which statement is true?
A. Our merchandise trade deficit and our overall trade deficit are identical.
B. Our merchandise trade deficit is greater than our overall trade deficit.
C. Our overall trade deficit is greater than our merchandise trade deficit.
D. None of these statements are true.
B. Our merchandise trade deficit is greater than our overall trade deficit.
Economics
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________ are non-excludable but rival in consumption
A) Public goods B) Private goods C) Common pool resources D) Club goods
Economics
If the marginal rate of substitution is not diminishing, it must mean that tastes violate convexity (assuming that our other assumptions about tastes hold).
Answer the following statement true (T) or false (F)
Economics