The use of money as a medium of exchange
I. lowers transaction costs.
II. permits more specialization.
A) I only B) II only C) Neither I nor II D) Both I and II
D
Economics
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Intraindustry trade relies on
A) economies of scale. B) the product cycle. C) differences in factor endowments. D) monopoly pricing.
Economics
An increase in the price of product B leads to an increase in the demand for product C. This indicates that products B and C are:
A. Complementary goods B. Substitute goods C. Inferior goods D. Normal goods
Economics