Which major asset experienced a price bubble just before the housing price bubble of 2006-2009?

Monopolists can earn positive economic profits in the long run because they are more productively efficient than perfectly competitive firms

a. True b. False

Suppose Canada has a comparative advantage relative to the United States in the manufacture of clothing and the United States has a comparative advantage in producing agricultural products. Which of the following is most likely to occur?

A. Canada will sell clothing to the United States but not buy any agricultural products from the United States. B. Canada will sell clothing to the United States and the United States will sell agricultural products to Canada. C. Canada and the United States will not trade agricultural products or clothing. D. Canada will sell agricultural products to the United States and Canada will buy clothing from the United States.