Trade between countries tends to
a. reduce both competition and specialization
b. reduce competition and increase specialization.
c. increase competition and reduce specialization.
d. increase both competition and specialization.
d
You might also like to view...
Which of the following is true?
a. In 2002, national defense accounted for more than half of federal spending. b. Federal spending on national defense has increase rapidly during the last several decades. c. Federal spending on health care programs such as Medicare and Medicaid has increased rapidly during the last several decades. d. Federal spending in the aftermath of hurricane Katrina expanded over 50%.
Which of the following is not correct?
a. Across countries there are large differences in the average income per person. These differences are reflected in large differences in the quality of life. b. With a growth rate of about 2 percent per year, average income per person doubles about every 60 years. c. The ranking of countries by average income changes substantially over time. d. In some countries real income per person has changed very little over many years.
Figure 11-5
Crown Theater is the only movie theater in the city. Its cost and revenue curves are shown in Figure 11-5. Monopolist Crown Theater would set the price of its tickets at
a.
$7.50.
b.
$6.00.
c.
$4.50.
d.
$3.00.
The standard discussion of monetary policy is based on the assumption that the:
A. entire yield curve shifts up when the Fed sells government bonds. B. yield curve becomes steeper when the Fed buys government bonds. C. entire yield curve shifts down when the Fed sells government bonds. D. yield curve becomes inverted when the Fed buys government bonds.