Opportunities created by trade:
A) induce a greater degree of specialization.
B) are evidenced by higher opportunity costs of production.
C) are a result of absolute advantage.
D) are few and far between.
Answer: A) induce a greater degree of specialization.
Economics
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According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A) 14 hours B) 22 hours C) 47 hours D) 96 hours
Economics
Refer to Figure 4.1. Suppose Alvin chooses Top, while Simon chooses Down, and Theodore chooses Left. Theodore's payoff will be
A) 4. B) 6. C) 14. D) 24.
Economics