The basis for international trade is ______________ and ______________.
Fill in the blank(s) with the appropriate word(s).
specialization; exchange
Economics
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You lose your job and, as a result, you buy more frozen pizzas. For you, frozen pizza are a(n)
a. luxury good. b. inferior good. c. normal good. d. complementary good.
Economics
Over the past two centuries, the average annual rates of return were about
a. 5 percent for stocks and about 1.5 percent for short-term government bonds. b. 6 percent for stocks and about 2.5 percent for short-term government bonds. c. 8 percent for stocks and about 3 percent for short-term government bonds. d. None of the above is correct.
Economics