One lesson of business:
a. is tracing the consequences of a policy
b. promoting a policy change to eradicate inefficiencies
c. buy a low-valued assets and sell it to someone who values it higher.
d. None of the above
c
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This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
According to the graph shown, if this were depicting an autarky, the amount being bought domestically is:
A. 60 at $10 each. B. 115 at $14 each. C. 60 at $17 each. D. 150 at $10 each.
"Property rights" can usefully be thought of as
What will be an ideal response?
The gains from specialization and trade are based on comparative advantage.
Indicate whether the statement is true or false.
Capital goods yield benefits
A. over their life span. B. before they are put to use. C. in the present only. D. as soon as the investment decision is made.