Refer to Figure 7-4. The efficient quantity of medical services is

The basic proposition in international trade is that

A) trade is determined by absolute advantage. B) in the long run, imports are paid for by exports. C) everyone is made better off by free trade. D) fair trade is more important than free trade.

Higher levels of savings will result in all of following except: a. greater economic growth

b. higher capital formation. c. more consumption in the future. d. lower rates of investment.