Specializing and participating in international trade allows an economy to: (check all that apply)
a. diver high-skilled resources toward low-valued services.
b. increase the quantities of capital and consumer goods available to society.
c. circumvent the output limits imposed by its own production possibilities curve.
d. get more of the desired good by sacrificing greater amounts of some other good.
b. increase the quantities of capital and consumer goods available to society.
c. circumvent the output limits imposed by its own production possibilities curve.
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Refer to Table 2-9. What is Serena's opportunity cost of making a bracelet?
A) 2 necklaces B) 3/4 of a bracelet C) 1/2 of a necklace D) 1/2 of a bracelet
Racial discrimination and other forms of discrimination based on irrelevant factors are illegal. Can price discrimination be illegal as well?
What will be an ideal response?
Which of the following financial securities is most liquid?
A) a cashier's check B) a share of stock C) a $20 bill D) a savings account
A recessionary gap is the amount by which aggregate expenditures ____ the amount required to achieve full-employment equilibrium GDP
a. exceed b. equal c. fall short of d. are greater than