When there is no comparative advantage between countries
A. the benefits resulting from trade are increased.
B. there are no gains from specialization and trade.
C. there must be an absolute advantage.
D. each should try and specialize in the production of a particular commodity.
B. there are no gains from specialization and trade.
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Suppose the four-firm concentration ratio for an industry is 10 percent. This value indicates ________. If the four-firm concentration ratio for another industry is 95 percent, this value indicates ________
A) the industry is competitive; the industry has very little competition B) the industry has very little competition; the industry is very competitive C) the industry has firms worldwide; the industry is concentrated in one country D) the HHI will be high; the HHI will be low
Why were traditional Federal Reserve policies ineffective during the 2007-2009 recession?
What will be an ideal response?