To achieve gains from trade, a country
A) needs to have an absolute advantage in the production of all goods.
B) specializes in the producing a good in which it has a lower opportunity cost.
C) must produce at a point beyond its PPF.
D) needs to have an absolute advantage in the production of at least one good.
E) should produce at the midpoint of its PPF.
B
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The saving function is
A) cY. B) Y - T. C) (1 - c)(Y - T). D) -a + (1 - c)(Y - T).
As of 2012, about how many banks were there in the United States?
A) 57 B) 2000 C) 6200 D) 14,000
Sales maximization and profit maximization are essentially equivalent
a. True b. False Indicate whether the statement is true or false
A person will be more likely to migrate the:
A. greater the distance they will have to travel from their country of origin. B. greater the wages in their prospective new country relative to wages in their home country. C. fewer the number of "beaten paths" that exist to their prospective new country. D. greater the number of children they have.