Suppose there is a family in which all the boys are expected to become farmers when they are adults, just as their fathers and grandfathers did. In which kind of economy do they participate?

Assume that Greece has a comparative advantage in fish and Germany has a comparative advantage in cars. If these two countries specialize and trade according to their comparative advantage

A. all individuals in both countries will benefit. B. Greece will specialize in and export cars. C. Germany will produce more cars than in the absence of trade. D. Germany will produce more fish than in the absence of trade.

A corporation is owned by its

A) board of directors. B) stockholders. C) employees. D) CEO.