Voluntary trade promotes economic progress because it
a. encourages individuals to become self-sufficient.
b. benefits buyers at the expense of sellers.
c. makes larger outputs possible as a result of specialization.
d. moves goods, services and resources from people who value them more to individuals who value them less.
c. makes larger outputs possible as a result of specialization.
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Everything else held constant, an increase in the liquidity of bonds results in a ________ in demand for bonds and the demand curve shifts to the ________
A) rise; right B) rise; left C) fall; right D) fall; left
Refer to the above figure. Suppose that the supply curve shifts from SA to SB while the demand curve remains at DA. Which of the following is TRUE?
A) Only quantity supplied has increased. B) Only quantity demanded has decreased. C) Supply has increased. D) Supply has decreased.
Health care reform will lead to a(n) ____ in the number of new, young health care recipients which will cause the ____ of moral hazard problems associated with health insurance
a. increase; elimination b. increase; worsening c. decrease; elimination d. decrease; worsening
An increase in the price of the U.S. dollar in terms of euros will cause, ceteris paribus,
A. European goods to be cheaper to residents of the United States. B. Higher interest rates in the United States. C. European goods to be more expensive to residents of the United States. D. A lower European inflation rate.