A possible reconciliation of the Leontief Paradox is that the United States has high tariffs on capital intensive goods and low tariffs on labor intensive goods

Indicate whether the statement is true or false

FALSE
Explanation: This is both untrue and opposite the reconciliation of Travis. Such a tariff structure would make it more likely that U.S. trade patterns would have conformed to Leontief's priors.

Economics

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GDP measures the total income a society generates

Indicate whether the statement is true or false

Economics

One result of asymmetric information in the market for used cars is that buyers benefit at the expense of sellers

a. True b. False

Economics