If two countries specialize in the production of goods in which they have a comparative advantage, they can experience gains from trade
Indicate whether the statement is true or false
TRUE
Economics
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Describe, in general terms, how an economist calibrates a macroeconomic model. What statistics can be usefully examined to see how well the model corresponds to the data?
What will be an ideal response?
Economics
Why are Pigovian taxes preferred to regulatory policies as methods to remedy negative externalities?
Economics