Free trade associations can potentially be harmful to international trade.
Answer the following statement true (T) or false (F)
True
Some economists are concerned that these associations will impose trade restrictions on nonmember countries.
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Skis and snowboards are close substitute goods. A ________ in the price of snowboards would tend to ________ the demand for ________
A) rise; increase; snowboards B) rise; decrease; snowboards C) rise; decrease; skis D) rise; increase; skis E) fall; increase; snowboards
Suppose the equilibrium price of bottled water has risen from $1.00 per bottle to $2.00 per bottle and the equilibrium quantity has increased. These changes are a result of a ________ shift of the ________ curve for bottled water
A) rightward; demand B) rightward; supply C) leftward; supply D) leftward; demand
What role do households play in output markets? What role do households play in factor markets?
What will be an ideal response?
Those costs implied by alternatives given up are
a. explicit costs. b. historical costs. c. outlay costs. d. implicit or opportunity costs.