Which sector consists of services traded for food, shelter, housing or other services?
(a) tertiary
(b) secondary
(c) primary
(d) international
(a)
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In the short run, which are most important in determining changes in output?
A. Marginal cost and marginal revenue B. Total costs and revenue C. Average cost and average revenue D. Fixed costs
One topic that microeconomics explores is how prices are determined in individual markets, while macroeconomics is concerned with issues such as the economy's overall rate of inflation, economic growth and unemployment
a. True b. False Indicate whether the statement is true or false
The higher the transaction cost of an exchange, the lower the probability of the exchange taking place between the buyer and the seller
Indicate whether the statement is true or false
Which of the following factors explain why the world's trading nations have become increasingly interdependent, from an economic and political viewpoint, during the post-World War II era? Check all that apply.
A. The post-World War II baby boom B. The aging of the Western population C. The formations of the European Community and the Organization of Petroleum Exporting Countries D. The reindustrialization of Europe and Japan