Specialization increases total world output.
Answer the following statement true (T) or false (F)
True
Increased total world output occurs since trade allows each country to produce at a lower opportunity cost, boosting overall production and incomes.
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A college must decide if it wants to offer more Internet-based classes. This decision involves answering the economic question of "what to produce."
Indicate whether the statement is true or false
During the Napoleonic Wars (1793-1815),
a. America experienced periods of full employment. b. urbanization increased sharply. c. America bore the brunt of the mercantilist policies of both England and France. d. Both a and c are correct. e. Both a and b are correct.
The Bush 2001 tax package included both short-term fiscal stimulus and incentives to encourage long-term savings.
Answer the following statement true (T) or false (F)
For a monopoly, the marginal revenue curve has ________ point(s) in common with the firm's linear demand curve.
A. no B. all C. one D. indeterminate from the given information