Most economists support open trade because it increase our choices as consumers, lowers costs for producers, increases competition and innovation, and leads to greater diffusion of technological change

The exceptional economic growth in East Asia during the last half of the twentieth century was in large part due to governments in this region ______.

a. limiting the number of births b. encouraging citizens to spend and consume rather than save c. ensuring good basic education for their citizens d. protecting citizens’ property rights

An inferior good is one

A. produced by American industries. B. whose quantity demanded falls when the purchaser’s income rises. C. ordinarily bought by college students from college-town merchants. D. suitable for a garage sale.