Comparing international trade with trade among the different states of the United States shows that
a. the logic of international trade is quite different from that of intranational trade.
b. the basic reasons for trade are equally applicable within a country or among countries.
c. there is no need to study international trade as a special subject.
d. All of the above are correct.
b
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Data for an economy show that the unemployment rate is 6 percent, the participation rate is 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?
A. 333 million B. 500 million C. 1.20 billion D. 800 million
Opportunity cost cannot be measured in money terms, only in conceptual terms.
Answer the following statement true (T) or false (F)
Strategic situations are more likely to arise when the number of decision-makers is very large rather than very small.
Answer the following statement(s) true (T) or false (F)
Auction Information Austin's Auctions conducts online auctions on behalf of clients trying to dispose of liquidated dental laboratory equipment. Some clients want to keep product information about each of the items as guarded as possible so as to
negotiate from a stronger position. Others provide photos, detailed assessments as well as complete maintenance records. Which group of clients receive higher prices and why?