Once a nation has been producing a good or service for some time,
a. its supply curve for that product is vertical
b. its supply curve for that product is horizontal at the world price
c. it often develops a comparative advantage in producing that good or service
d. its moves along its production possibilities frontier and produces more of it
e. its production possibilities frontier shifts outward
C
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Use the above table. At an income of $50
A) real saving is $10. B) real saving is $20. C) real dissaving is $10. D) real dissaving is $50.
The open lands in the early West were overgrazed largely because no one owned the land being used for grazing.
Answer the following statement true (T) or false (F)
The change in any factor other than ________ would shift the demand curve
a. Weather b. interest rate c. Price d. all of the above
A merger of firms with a supplier is a:
a. vertical merger. b. conglomerate merger. c. monopoly merger. d. horizontal merger.