For the most part, trade between many countries:
A. is entirely unregulated or free.
B. causes the well-being of some nations to win and others to lose.
C. is regulated or restricted in some way.
D. is free, with the notable exception of China.
Answer: C
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In the long run, if the output of a firm is zero then its total cost will be equal to its total fixed cost
a. True b. False Indicate whether the statement is true or false
If you move from a point inside the production possibility curve to a point on the production possibility curve, it follows that efficiency is:
A. increased because the economy is now on the production possibility curve. B. increased only if production of both goods increases. C. reduced if less of one good is produced. D. increased as long as the combined output of both goods increases.