What is meant by "gains from specialization"?
What will be an ideal response?
Gains from specialization are the economic gains that the society can obtain by having some individuals, regions or countries specialize in the production of certain goods and services.
Economics
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Cleo promises to pay Jacques $1,000 two years from today. If the interest rate is 4 percent, then how much is this future payment worth today?
a. $924.56 b. $931.44 c. $937.87 d. None of the above are correct to the nearest cent.
Economics
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
Economics