If all countries specialize in producing goods for which they have a comparative advantage, then total world output will be lower
Indicate whether the statement is true or false
F
Economics
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The form of economic organization in which individuals may own private property but in which the government owns and operates productive resources is called
A) communism. B) capitalism. C) socialism. D) utilitarianism.
Economics
Suppose 100 citizens each derive marginal benefit from submarines according to the function MB = 10 - Q. If subs cost $100 each to produce, what is the efficient quantity of submarines?
What will be an ideal response?
Economics