When countries engage in specialization and international trade, every individual person in those countries will gain

Credit may dry up at the start of an economic downturn because of all of the following except:

A. the free-rider problem worsens during a downturn. B. lenders require information and accurate information is more difficult to obtain. C. it becomes more difficult for lenders to determine the creditworthiness of borrowers. D. lenders see greater risk in making loans to borrowers.

Select the graph above that best shows the change in the market specified in the following situation: In the market for gasoline, when the price of oil, which is used to produce gasoline, increases because of reduced production by major oil-producing nations.

Graph A Graph B Graph C Graph D