Some time ago, the nation of Republica opened up its paper market to international trade. Which of the following results of this policy change is consistent with the notion that Republica has a comparative advantage over other countries in producing paper?
a. The price of paper in Republica decreased as a result of the policy change.
b. Republica began exporting paper as a result of the policy change.
c. The domestic demand curve for paper shifted to the right as a result of the policy change.
d. The domestic quantity of paper demanded increased as a result of the policy change.
b
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Which of the following is true?
A) To be classified as employed, you must work at least 20 hours per week at a paid job. B) If you are not working and turn down a job offer in the previous week, you are no longer classified as unemployed. C) To be classified as employed, you must be a full-time worker at a paid job. D) Part-time workers are all those who work less than 40 hours per week. E) To be classified as employed, you must work at least 1 hour per week at a paid job or 15 hours or more as an unpaid worker in your family business.
In the short run, if the market price is below the firm's average total cost of production, the firm will always shut down
a. True b. False Indicate whether the statement is true or false