If a nation decides to specialize and trade, which of the following situations could be expected to occur?
a) lower prices
b) fewer domestic jobs
c) decreased resource availability
d) decreased dependence on other nations
e) decreased quantity and quality of goods
Ans: a) lower prices
Economics
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Using the data in the above table, what is the average product of three employees?
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Receiving $100 at the end of the next three years is worth more to me than receiving $260 right now, when my required interest rate is 10%
a. True b. False
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