The principle that "trade can make everyone better off" applies to interactions and trade between
a. families.
b. states within the United States.
c. nations.
d. All of the above are correct.
d
You might also like to view...
Education is an integral part of economic growth
Indicate whether the statement is true or false
The function of money that helps assess the opportunity cost of an activity is money's use as a
A) barter tool. B) store of value. C) medium of exchange. D) store of debt. E) unit of account.
In which of these developing regions has food production per capita steadily fallen over the last quarter century?
(a) Africa. (b) East Asia. (c) South Asia. (d) Latin America.
Suppose you drink more tea because the price of coffee has increased. Which of the following best explains your action?
a. the law of supply b. tea and coffee are complements c. the substitution effect d. the income effect e. your nominal income has increased