Multiple Choice
A nation with cheap, efficient communications is likely to be
A) richer, ceteris paribus, because transaction costs will be lower and trade greater.
B) richer only if production of goods is cheaper, too, since trade itself cannot create value.
C) poorer since it spends so much on communication instead of true productivity.
D) spending too much on communications, which adds nothing to the value of output.
Correct Answer:
Verified
Correct Answer:
Verified
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