If European incomes rose, European tariffs on U.S. goods decreased, or their tastes for American goods increased, Europeans would demand ____ U.S. goods, leading them to ____ their supply of euros to obtain the added dollars necessary to make those purchases.
a. more; increase

What three factors that were critical to economic prosperity did Adam Smith observe, and later publish in The Wealth of Nations?

What will be an ideal response?

The price in a contestable market is similar to that in a perfectly competitive market because

A) there are barriers to entry. B) there are no barriers to entry. C) there are many firms in the market. D) the firm can earn an economic profit in the long run.