Columbia Basin College ECON 201 Exam 5 1)What is one of the risks involved in complete specialization?   Which effect does NOT deal with Macroeconomics? Which event will NOT lead to a decrease in supply? Which is not a source of economic growth? Which is NOT one of the three basic economic questions that each society must answer? Which of these is the most likely to have the highest elasticity of demand? Which of these results in a higher standard of living? Which scenario is the MOST likely effect of an increase in the price of flashlights on the market for batteries?   Which situation would MOST likely lead to an import of copper into a certain country?     Which statement illustrates the law of demand?   Which statement is NOT considered a key principle of economics?   Which statement is a key idea in economic thinking?    advantage exists when one country can produce more of a good than another