Which statement is accurate concerning the early history of globalization around the time of WWI?
a. In the decades before the war, international trade decreased steadily due to the colonial system.
b. In the years after the war, rebuilding international trade was hampered most by the Nazi invasion of Europe.
c. After the war, Great Britain's position was so strengthened that it could convince others to lower trade barriers.
d. During the war, many trading relationships were destroyed, as trading partners became military adversaries.
d. During the war, many trading relationships were destroyed, as trading partners became military adversaries.
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Economic inefficiency exists when
A) P = MR. B) P = MC. C) MR = MC. D) P > MC.
How does an increase in the price of laptop memory chips affect the market of laptops?
a. The demand curve for laptops to shift to the right b. The demand curve for laptops to shift to the left c. The supply curve for laptops to shift to the right d. The supply curve for laptops to shift to the left