If two countries specialize,
a. the other countries trading with them cannot specialize
b. everyone in both countries gains
c. the total of goods produced increases
d. the other countries trading with them must specialize as well
e. all goods will be produced in both states
C
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Over the past 40 years, real GDP per capita has roughly
a. stayed the same. b. tripled. c. increased by 50 percent. d. doubled. e. declined by 50 percent.
Which of the following statements is an example of normative economic analysis?
A) Pollution regulations have raised the cost of production for energy companies. B) As the wage rate increases, companies are hiring fewer workers. C) Improvements in technology have reduced the time needed to manufacture automobiles. D) Tablet computers should be manufactured in countries that do not restrict internet access to their citizens.