Specialization in production can occur based on geographic advantages.
Answer the following statement true (T) or false (F)
True
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As the price of a good rises:
A. government regulation becomes more justified. B. firms generally increase the supply of the good. C. firms generally decrease the supply of the good. D. more firms can cover their opportunity cost of producing the good.
In mixed strategy Nash equilibria, players play each of two pure strategies with probability 0.5.
Answer the following statement true (T) or false (F)
A person who has given up searching for work is called:
a. frictionally unemployed. b. structurally unemployed. c. a discouraged worker. d. unemployed.
Whether you are studying the money economy of the U.S., Pakistan, China, or the Federated States of Micronesia, the characteristics that money must have include
a. portability, durability, and flexibility b. durability, flexibility and readily acquired c. durability, portability, and heterogeneity (nonhomogeneous) d. portability, durability and relative scarcity e. portability, homogeneity, and flexibility