Question: Increase in total output realized when individuals specialize in particular tasks and trade are known as: a. The gains from trade b. The profits obtained

Increase in total output realized when individuals specialize in particular tasks and trade are known as:

a. The gains from trade

b. The profits obtained from sales of a good or service

c. The multiplier effect

d. An excess supply

Step by Step Solution

★★★★★

3.47 Rating (173 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The answer is A The gains from Trade when individual has a absolute or comparative advanatage i... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1019-B-C-F-D-F(1185).docx

120 KBs Word File

Students Have Also Explored These Related Corporate Finance Questions!

Q:

Multiple Choice Questions 1. Raj opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60 worth of lemonade. In the same two hours, he could have mowed his neighbor's lawn...

Q:

You, CA, are the audit senior of Ball Construction Corporation (BC), a small public company. It is September 19, 2013, and the year-end audit fieldwork has just been completed. The audit partner,...

Q:

1. On a graph of the labor market, show the effects of an increase in the payroll tax. 2. On a graph of the labor market, show the effects of a negative shock to technology on wages and employment....

Q:

For the project, Students should read Chapter 19 and then write a short Chapter Summary, T he world is a giant shopping mall, and Americans are big spenders. For example, the U.S. population is less...

Q:

For the project, Students should read Chapter 19 and then write a short Chapter Summary, T he world is a giant shopping mall, and Americans are big spenders. For example, the U.S. population is less...

Q:

(Short-Answer and Algebraic Questions): (The numbers in square brackets give the breakdown of the points for various parts of each question. please explain your answers.) 1. This questions is based...

Q:

4 Files 12:47 PM Mon May 16 Insert Draw Layout Review View Unit 3Microec0nomics Name: ELASTICITY Use the space below to take notes during class. Elastic: Unit Elastic: Inelastic: Perfect...

Q:

This is International Business and Trade subject. Please help me answer the following (briefly and concisely): 1. Differentiate Vertical and Horizontal Foreign Direct Exchange Decisions. 2. What do...

Q:

List four basic financial statement analysis procedures, describe how you would calculate each procedure and discuss why you would use each procedure. In your initial response, please do not use...

Q:

This is your week 4 paper for HRMT413. READ FULLY CHAPTER 10 OF YOUR TEXT: 4 page paper Consider your current or any former work location at which you have been employed. In a power point or word...

Q:

Steve, an Ontario taxpayer, has come to you for advice on the payment of income tax instalments. He has provided you with the following information on his actual or estimated combined federal and...

Q:

Under what conditions is the composition of two affine functions (a) A translation? (b) A linear function?

Q:

Question 2 of 6 Virw Policies Orrent Aftempt in Progress A Us compary owns an toxinterest in a compary located on Mas. Martan currency is called the Martian Crede. During the year the parent company...

Q:

Consider the market for coffee beans. For each of the following cases, give an example of some real world events that would lead to that outcome, and explain your reasoning: a. the quantity of coffee...

Q:

Consider a digital communication system that uses a repetition code for the channel encoding/decoding. In particular, each transmission is repeated times, where n = 2m + 1 is an odd integer. The...

Q:

Let X 1 , X 2 , . . , X n denote the elements of a Gaussian vector X. The Z are independent with mean ? i and variance ? 2 i , i = 1, 2,. . . , n . Show that the differential entropy of the vector X...

Q:

A continuous random variable X is constrained to a peak magnitude M that is ? M (a) Show that the differential entropy of X is maximum when it is uniformly distributed, as shown by (b) Show that the...

Q:

Eachyear, Fortune Magazine publishes an article titled"The International500" that provides a ranking by sales of the top 500 firms outside the United States. Suppose that you want to examine various...

Q:

Which of the following statements related to preferred stock is correnct? (can be more than one) A. Preferred shareholders normally receive one vote per share of stock owned. B. Preferred...

Q:

Let a2 a1a0 and b2b1b0 be a 3-bit binary numbers, and let c3c2c1c0 = a2 a1a0 + b2b1b0 be 4-bit binary number. For example, 1011 = 101 + 110. Write Boolean expressions for c2, c1, c0.