International specialization allows a country to use its resources to
a. create jobs for government workers by expanding international foreign aid programs
b. produce special goods such as computer software that require specific knowledge
c. expand the development of its natural resources such as lumber, oil deposits, and coal
d. produce specific goods, allowing other countries to focus on the production of other goods
e. develop political ties through international cooperation and mutual sharing of goods
D
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Firms do not have market power in which of the following market structures?
A) perfect competition and monopolistic competition B) perfect competition only C) monopoly D) oligopoly
The nominal gross domestic product (GDP) for a country was $1,000 in 2003 and $1,500 in 2004 . The GDP price index was 100 in 2003 and 150 in 2004 . Between 2003 and 2004, real GDP _____
a. increased by $500 b. increased by $333 c. increased by $50 d. remained the same e. decreased by $50