The field of industrial organization addresses how the number of firms affects prices in a market and the efficiency of the market outcome

Refer to Figure 26-3. In the figure above, when the money supply shifts from MS1 to MS2, at the interest rate of 3 percent households and firms will

A) sell Treasury bills. B) neither buy nor sell Treasury bills. C) want to hold more money. D) buy Treasury bills.

Specialization in production is beneficial because

a. it allows everyone to have a job that they like. b. it permits people to expand production and achieve rates of output that would otherwise be unattainable. c. it allows everyone to be self-sufficient. d. it eliminates the need for the division of labor.