If Japanese workers are more productive than French workers then trade between Japan and France
A) cannot take place because Japanese goods and services will be less expensive than French goods and services.
B) can take place only if France has an absolute advantage in producing a good or service Japanese buyers want.
C) will take place so long as each country has a comparative advantage in a good or service that buyers in the other country want.
D) cannot take place until French workers become more productive.
C
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Figure 15-1
Figure 15-1 portrays conditions in the monopolized weezil industry. From the diagram, the production of weezils
A. must cause a detrimental externality. B. must cause a beneficial externality. C. must cause either a detrimental or a beneficial externality, more information is needed to determine which one. D. may or may not cause an externality.
Equilibrium occurs when the aggregate demand curve intersects the aggregate supply curve.
Answer the following statement true (T) or false (F)