In the United States, corporate profits are taxed at the corporate level but are not taxed as personal income in the form of dividend payments

If countries have similar factors of production and similar productivities, most of their trade is likely to be intraindustry

Indicate whether the statement is true or false

In which of these industries would you expect the least elastic response from suppliers?

a. fast food b. soft drink c. road building d. aircraft e. Picasso paintings