Trade between two nations can benefit both if each specializes in the good that it can produce at a lower opportunity cost.
a. true
b. false
Ans: a. true
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Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ________, and the equilibrium quantity ________
A) rises; increases B) rises; decreases C) rises; does not change D) falls; decreases E) falls; increases
For assessing whether or not and how much of an asset to hold, the important consideration is the asset's amount of
A) diversifiable risk. B) nondiversifiable risk. C) relative risk. D) absolute risk.
When economic profits are positive in a perfectly competitive industry,
a. we would expect the market supply curve to shift to the left as a result. b. we would expect the market supply curve to shift to the right as a result. c. we would not expect any change in the market supply curve to result. d. we would expect that the market demand curve to shift right as a result
Household savings rates:
A. were fairly constant at about 5 %in the United States from 2000 to 2010. B. were roughly 5% in the United States in 2016. C. were 10% in the United States in 2016. D. have been roughly 15 % in the United States for the last 30 years or so.