The rule guiding international specialization of production is that a country should specialize in the production of the good
a. for which it has the highest opportunity cost
b. for which it has the lowest opportunity cost
c. that it most wants to consume
d. for which it has an absolute advantage
e. that it can produce with the least quantity of capital
B
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Assume the graph shown represents Kerri's budget constraint. If Kerri's income to spend on these two items increased, which of the following would be true?
A. Kerri's budget constraint would shift out, maintaining the same slope.
B. Kerri's budget constraint would shift out, and get steeper.
C. Kerri's budget constraint would shift in, maintaining the same slope.
D. Kerri's budget constraint would shift out, and get flatter.
If a product can be produced by a natural monopoly, society will benefit in the form of lower prices if the monopolist is broken up into several smaller firms
a. True b. False Indicate whether the statement is true or false
The AFL was headed by ___________ from 1886 until 1924.
Fill in the blank(s) with the appropriate word(s).
What is included in MB that is not included in either M1 or M2?
A. currency B. reserve deposits C. savings accounts D. checking accounts