One of the reasons why we have several competing theories of international trade flows is difficulty economists encounter in devising and carrying out precise tests of trade theories
Indicate whether the statement is true or false
TRUE
Economics
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When the price of the product falls
a. consumer's surplus remains the same. b. producers' surplus increases. c. consumer's surplus falls. d. producer's surplus falls.
Economics
Although a variety of commodities have been used as money, the most commonly used have been
a. stones and cattle. b. shells and beads. c. gold and silver. d. cigarettes and candy bars.
Economics