James has a comparative advantage in the production of corn, while Harry has a comparative advantage in the production of bread. If James and Harry decide to trade with each other, _____
a. both Harry and James will enjoy gains from trade
b. only Harry will enjoy gains from trade
c. only Harry will suffer losses from trade
d. only James will suffer loses from trade
e. neither of them will gain from trade
a
Economics
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Public goods differ from private goods in that:
a. they produce negative externalities. b. they are not scarce. c. their benefits cannot be denied to anyone. d. their consumption must be regulated by the government. e. their benefits are very narrow.
Economics
The Industrial Revolution refers to the stream of new technology and the resulting growth of output than began in England toward the end of the eighteenth century
a. True b. False Indicate whether the statement is true or false
Economics