Generally, specialization leads to
A) constant opportunity costs.
B) greater productivity.
C) reductions in people's skill levels.
D) greater self-reliance.
Answer: B
Economics
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Which of the following is not a reason to predict that farm subsidies might decline in the future?
A. A declining farm population B. The special interest effect C. Pressure to cut the budget deficit D. Conflicts with free world trade
Economics
If Andrea sells Dan a Wii gaming system for $150,
a. the well-being of both parties will be unchanged. b. Andrea will gain from the transaction, but Dan will lose. c. Dan will gain from the transaction, but Andrea will lose. d. both Dan and Andrea will gain from this transaction.
Economics