ECON 111 Exam Solutions Fall 2018: Perfect Competition, Nuclear Fission, Comparative Advantage
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ECON 111 Full Course Notes
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This exam accounts for either 0% or 50% of your final grade depending on whether your first midterm score is higher or lower respectively than your score on this exam. Time allowed: 45 minutes. the production of less valued goods in the economy recycling of material from primary goods: secondary production refers to. C: access to education and the associated absorption of knowledge is limited in developing rich countries wish to keep knowledge to themselves. A. countries large global firms are more able to produce at volumes where unit costs are lower trade makes countries wealthier: trade allows the exploitation of economies of scale and scope because. B: consumers have greater access to goods and services. D. trade rules protect intellectual property rights and thereby encourage investment: the composition effect of trade is due to, a trade-induced increase in the level of production, a trade-induced increase in the level of consumption. B: how the economy acquires and uses energy.
