Annie is an excellent baker and Sam has a plentiful farm. If Sam trades eggs and butter to Annie for some of Annie's bread and pastries,
a. only Sam is made better off by trade.
b. only Annie is made better off by trade.
c. both Sam and Annie are made better off by trade.
d. neither Sam nor Annie are made better off by trade.
c
Economics
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The overall performance of the economic system as a whole is the focus of
a. international finance b. labor economics c. microeconomics d. macroeconomics e. public economics
Economics
When different regions of a country produce different goods,
a. the production possibilities curve shifts to the left. b. the country becomes worse off. c. the principle of comparative advantage has been breached. d. the country becomes better off if the regions are pursuing their comparative advantages.
Economics