One reason why nations trade is because
a. trading provides opportunities to earn profits.
b. the rate of interest is not the same in all countries.
c. resources are not equally distributed to all nations.
d. some nations like to build one thing while others like to build another.
c
Economics
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Charlie's income went from $1000 per week to $1500 per week. As a result he increased his consumption of beef from 1 pound a week to 3 pounds a week. Based on his consumption patterns, the income elasticity of beef for Charlie is
A) 2.50. B) -.50. C) .50. D) -1.50.
Economics