The tendency of markets to automatically gravitate toward equilibrium is an application of the:

A. Scarcity Principle.
B. Principle of Comparative Advantage.
C. Incentive Principle.
D. Cost-Benefit Principle.

Answer: C

Economics

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Suppose two nations are seeking to expand their commercial relations. What options do they have in terms of addressing conflicts in standards? Describe each and what conditions might favor different approaches to setting standards

What will be an ideal response?

Economics

Evidence on inheritance and current income shows

A) very little relationship between the two B) that a little inheritance boosted incomes substantially C) that few individuals receive inheritances D) that very few people inherit more than $10,000

Economics