Specialization occurs because
A) society trades current consumption for future consumption.
B) the production possibilities curve tends to be linear.
C) people have different skills.
D) society produces made the production possibilities curve.
C
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By the end of the colonial period, the Middle Colonies' population gained over New England but the Southern population continued to dominate
Indicate whether the statement is true or false
Throughout U.S. history, entrepreneurial activity would occur when
(a) centralized economic planning was involved (b) distributed rights to profits were clear and protected (c) government intervention was pervasive (d) all of the above
A yellow dog contract is a(n)
a. signed contract by a worker that he/she will not join a union if hired b. signed contract by a worker that he/she will join a union if hired c. prolabor provision in a contract that only union members will be employed d. agreement by a union member that he/she will not join any other union e. agreement by a worker that he/she will not go on strike
In a competitive market the equilibrium price and quantity occur where:
A. consumers and suppliers bargain to a mutually acceptable price. B. the downsloping demand curve intersects the upsloping supply curve. C. quantity demanded exceeds quantity supplied or vice versa. D. the upsloping demand curve intersects the downsloping supply curve.