Which of the following is one reason why trade makes all parties better off?
a. Because it always expands the amount of domestic production of each good and service, and more is preferred to less.
b. Because it permits all parties to acquire some items better suited to their tastes
c. Because it makes people appreciate what they have, and they are happier.
d. Because it encourages consumption rather than saving.
b
Economics
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Union membership declined during the 1920s due to:
a. failure of a number of strikes. b. increase in real wages left the labor force satisfied. c. firms' use of "yellow-dog" contracts. d. poor union leadership. e. All of the above.
Economics
External benefits cause the market to:
a. underallocate resources. b. be more efficient. c. set excessively high prices. d. have persistent shortages.
Economics