Intra-industry trade between similar countries produces economic gains because it allows workers and firms to learn and _________ on particular products.
a. innovate
b. coordinate
c. disseminate
d. communicate
a. innovate
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Reduced U.S. tastes for European goods would ____ the supply of euros and ____ the demand for euros. a. decrease; increase
b. not change; increase. c. increase; increase. d. not change; decrease.
"Other things equal, an increase in supply causes a decrease in price" is a normative statement, not a positive statement
a. True b. False Indicate whether the statement is true or false
Teresa faces prices of $6.00 for a unit of good X and $1.50 for a unit of good Y. At her optimum, Teresa is willing to give up 1 unit of good X for __________ units of good Y
Fill in the blank(s) with correct word
Specialization allows individuals to:
A. become more self-sufficient. B. focus their attention on one aspect of production. C. better understand the entire production process. D. broaden their skill base.