When nations specialize in their areas of comparative advantage and then trade with the rest of the world, the result is that
A) the average standard of living in the world will go down.
B) the average standard of living in the world will go up.
C) the world will move from a point on the production possibilities curve to a point inside the curve.
D) worldwide economic efficiency will decrease.
B
Economics
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If you have a mortgage on your house at 6 percent and the inflation rate when the mortgage was acquired was 3 percent but has since increased and is now 8 percent per year; the current real interest rate is
A) -2 percent per year. B) 8 percent per year. C) 6 percent per year. D) 0 percent per year. E) 14 percent per year.
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Microsoft's government-granted exclusive right to make and sell the Windows operating system is called a
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