The most obvious benefit of specialization and trade is that they allow us to
a. work more hours per week than we otherwise would be able to work.
b. consume more goods than we otherwise would be able to consume.
c. spend more money on goods that are beneficial to society, and less money on goods that are harmful to society.
d. consume more goods by forcing people in other countries to consume fewer goods.
b
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Two studies published in the New England Journal of Medicine link the risk of breast cancer to alcohol consumption. Young women who have nine drinks per week were reportedly 150 percent more likely to develop breast cancer. Considering the market for alcohol, an economist would predict a movement
A. up the demand curve as quantity demanded falls. B. up the supply curve as the demand curve shifts. C. down the supply curve as the demand curve shifts. D. down the demand curve as quantity falls.
Using money as a store of value rather than wheat is: a. safer
b. less expensive. c. both safer and less expensive. d. neither safer nor less expensive.
Nominal GDP includes the current value of services produced in the economy
a. True b. False Indicate whether the statement is true or false
Last year in the country of Union, the price level increased and real GDP increased. Such an outcome might have occurred because short-run aggregate supply ... and aggregate demand ...
What will be an ideal response?