When each person specializes in producing the good in which he or she has a comparative advantage, total production in the economy
a. falls.
b. stays the same.
c. rises.
d. may fall, rise, or stay the same.
c
Economics
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If the demand for hamburgers decreases, the equilibrium price
A) rises and the equilibrium quantity increases. B) falls and the equilibrium quantity increases. C) rises and the equilibrium quantity decreases. D) falls and the equilibrium quantity decreases.
Economics
Which of the following is NOT a fixed payment loan?
A) a home mortgage B) a car loan C) a U.S. Treasury note D) a student loan
Economics