The concepts of comparative advantage, specialization, and trade:
A. can be useful in explaining why countries import and export certain goods.
B. can be useful in explaining why individuals typically work at one job, and buy the other goods and services they need.
C. can be useful in explaining why we allow ourselves to be interdependent on others.
D. All of the statements are true.
D. All of the statements are true.
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the Euro ________ against the U.S. dollar, the Japanese yen ________ against the U.S
dollar and the Canadian dollar ________ against the U.S. dollar A) depreciated, depreciated, depreciated B) appreciated, depreciated, appreciated C) appreciated, appreciated, appreciated D) depreciated, depreciated, appreciated
The supply of eggs comes from chickens. The price of eggs will decrease if
A) the supply of chickens decreases. B) the supply of eggs decreases. C) the price of chickens increases. D) the demand for eggs decreases.
If postal workers lose their positions because of the widespread e-mailing, texting, and faxing, it would likely _______ the natural rate of unemployment
a. increase. b. not change. c. decrease d. Have an unpredictable effect on.
What would be an example of an implicit cost of production?
a. the cost of a delivery truck in a business that rarely makes deliveries b. the cost of employee training programs c. the cost of raw materials for producing bread in a bakery d. the cost of lost income an entrepreneur could have earned working for someone else