If Brazil voluntarily ships coffee to the United States in return for airplanes,
a. Brazil will benefit, but the United States will lose.
b. one of the two nations will benefit and the other nation will lose since the trade does not increase the physical quantities of coffee and airplanes available.
c. both Brazil and the United States will benefit since the trade allows each nation to acquire items.
d. both Brazil and the United States will lose since there is no increase in the production of coffee or airplanes and the trade will involve certain transaction costs.
c
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The behavior of the entertainment industry in Detroit is a microeconomic topic
a. True b. False
The law of demand states that, other things equal, an increase in
a. price causes quantity demanded to increase. b. price causes quantity demanded to decrease. c. quantity demanded causes price to increase. d. quantity demanded causes price to decrease.