When you are able to supply others with goods and services they value highly relative to your opportunity costs,
A) both you and those with whom you trade will gain.
B) you will gain at the expense of others.
C) neither you nor those with whom you trade will gain.
D) others will gain at your expense.
A) both you and those with whom you trade will gain.
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In the Great Depression, the financial sector collapsed, as
A) banks engaged in ruinous competition. B) the stock market boomed, so people withdrew most of their funds from banks and invested heavily in stocks. C) the bond market boomed, so people withdrew most of their funds from banks and invested heavily in bonds. D) many banks closed.
According to the graph shown, the equilibrium price is ______ and equilibrium quantity is ____.
According to the graph shown, the equilibrium price is ______ and equilibrium quantity is ____.
A. $5; 30
B. $10; 20
C. $20; 10
D. $15; 30
Which of the following is not part of the pollution problem?
A. The absence of markets for goods like clean air and clean water B. The lack of well-defined property rights to clean air and clean water C. The unreliability of voluntary programs to cut pollution D. The willingness of citizens to take steps to reduce detrimental externalities
An effort by the Fed to reduce aggregate demand may be thwarted because
A) investment could remain the same or increase because of optimistic expectations by businesses about the future of the economy. B) investment and interest rates are positively related. C) investment could fall because of pessimistic expectations. D) taxes may have been increased.