The United States has a comparative advantage and specialize in the production of airplanes. Compared to the situation with no trade, which of the following will occur?
A) More airplanes will be produced in the United States.
B) There will be no change in the price of airplanes in the United States.
C) The world price of airplanes will increase.
D) The quantity of airplanes demanded in the United States will increase.
A
Economics
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Control of the nation's quantity of money is handled by
A) Congress. B) the Federal Reserve System. C) the President of the United States. D) Congress, the Federal Reserve System, and all commercial banks.
Economics
What is excess capacity? What industry has excess capacity in the long run: perfect competition or monopolistic competition?
What will be an ideal response?
Economics