When a price fails to reflect all the benefits of a product, too much of it is produced and/or consumed
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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For a person to have a comparative advantage in producing a product, she must be able to produce that product at a lower opportunity cost than her competitors
Indicate whether the statement is true or false
Economics
The investment schedule is downward sloping and the saving schedule is upward sloping with respect to the interest rate. Suppose the equilibrium real investment per year at the market rate of interest is $1 trillion
How is this represented when real national income per year is on the horizontal axis? How is this incorporated into the consumption-function graph?
Economics