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Foreign trade a allows a country to have a greater

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7.Foreign tradea. allows a country to have a greater variety of products at a lower cost than if it tried to produce everything athome.b. allows a country to avoid trade-offs.c. makes the members of a country more equal.d. increases the scarcity of resources.e. is none of the above.8.Because people respond to incentives, we would expect that if the average
salary of accountants increases by 50 percent while the average salary ofteachers increases by 20 percent,
9.Which of the following activities is most likely to produce an externality?
10.Which of the following products would be least capable of producing anexternality?
11.Which of the following situations describes the greatest market power?a. a farmer's impact on the price of cornb. Volvo's impact on the price of autosc. a student's impact on college tuitiond. Microsoft's impact on the price of desktop operating systems

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Term
Summer
Professor
PATCONROY
Tags
Economics, Felix

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