Individuals tend to trade because
A) they place different values on their property.
B) they expect to gain more than they give u
D
You might also like to view...
Suppose you drive a car that gets good gas mileage, and you notice that more and more people are driving gas-guzzling cars. Their increased demand for gas:
A. does not affect you. B. does not change the price you pay, but it reduces the quantity of gas supplied. C. is likely to cause the price you pay for gas to decrease. D. it likely to cause the price you pay for gas to increase.
Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then
A) Chile will produce more computers after trade begins with Brazil. B) Brazil will produce more timber after trade begins with Chile. C) Chile will produce more timber after trade begins with Brazil. D) Brazil will completely specialize in computers once trade begins with Chile.
A fixed exchange rate is:
a. determined by the forces of supply and demand. b. the value of a nation's money in gold. c. the value of a nation's money determined by the World Bank. d. none of these.
The quantity demanded in a market is only large enough for one firm to operate at the minimum of the long-run average cost curve. Which of the following will result in this situation?
a. Natural monopoly b. Oligopoly c. Duopoly d. Cartel