Benefits from specialization and trade exist even if the number of workers in trading nations is altered
a. True
b. False
Indicate whether the statement is true or false
True
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Saving is a ________ variable, and wealth is a ________ variable
A) stock; flow B) stock; stock C) flow; flow D) flow; stock
In the long run, firms in a perfectly competitive market choose to produce a quantity:
A. that earns zero economic profits. B. that does not cover minimum average variable costs. C. where marginal costs are less than average variable costs. D. where ATC and AVC are at their minimum values.
In which of the following markets adverse selection may not occur?
a. The market for pre-owned residential apartments b. The lemons market c. The market for new sports utility vehicles d. The capital market e. The market for health insurance
Which of the following is correct?
a. A higher price level shifts money demand rightward. b. When money demand shifts rightward, the interest rate rises. c. A higher interest rate reduces the quantity of goods and services demanded. d. All of the above are correct.