According to the principle of comparative advantage, all countries can benefit from trading with one another because trade allows each country to specialize in doing what it does best
a. True
b. False
Indicate whether the statement is true or false
True
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The supply schedule
A) shows the relationship between the quantity supplied and the price of a good when all other influences on selling plans remain the same. B) is the schedule that suppliers have to keep or else they will be late. C) shows the relationship between the quantity supplied and the price of a good when all other influences on selling plans change. D) shows one quantity at one price. E) is a curve showing the relationship between the amount the sellers are willing and able to sell and the price of that good when all relevant factors change.
Assume there are two competing social network sites, Mugshot and Graybar, and each grow in value as more people use them
Mugshot has been around longer and has the most users, but people tend to agree that Graybar is a better site, so the equilibrium where everyone uses Graybar is preferred to the equilibrium where everyone uses Mugshot. This situation describes a multiplayer A) assurance game. B) prisoner's dilemma game. C) battle of the sexes game. D) pure coordination game.