The increase in welfare in both countries that results from specialization and trade is called:
A. surplus enhancement.
B. exportation surplus.
C. gains from trade.
D. deadweight gain.
C. gains from trade.
Economics
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Refer to Table 8-17. What is real GDP in 2016, using 2011 as the base year?
A) $3,320 B) $3,690 C) $6,360 D) $7,035
Economics
Crops that are grown primarily to sell, rather than to consume, are referred to as
a. staples b. subsistence crops c. cash crops d. market crops e. none of the above
Economics
If an initial increase in investment spending of $30 caused equilibrium output to increase by $120, what is the value of the MPC?
a. 0.25 b. 0.50 c. 0.60 d. 0.75 e. 0.80
Economics
Debt servicing refers to the repayment of principal on the debt.
Answer the following statement true (T) or false (F)
Economics