Specialization and trade exploit differences in productivity across workers and:
A. only benefit the exporter.
B. only benefit the importer.
C. make everyone better off.
D. make everyone worse off.
Answer: C
You might also like to view...
Which of the following is least accurate in characterizing changes in retailing in the second half of the 19th century?
a. Large growth in the number of department stores b. Large growth in the number of chain stores c. Large growth in the number of "general stores" d. Large growth in the number of mail-order houses
The level of aggregate expenditure in the private closed Economy is determined by the
A) expenditures of consumers and businesses. B) intersection of the saving schedule and the 45-degree line. C) equality of the MPC and MPS. D) intersection of the saving and consumption schedules.
Which of the following equations shows elastic demand?
a. ED = 1 b. ED >1 c. ED < 1 d. ED x 1
Refer to the diagram. The total utility yielded by 4 units of X is:
A. 4.
B. 15.
C. 17.
D. 18.