If the MPC = 0.8, an increase in investment spending from $35 billion to $38 billion will increase real GDP by

Entry to a perfectly competitive market is the long-run process of reducing production in response to a sustained pattern of losses

a. True b. False Indicate whether the statement is true or false

Specialization can occur because

A. governments pass laws that require it. B. varying skills differentiate workers. C. managers and laborers share job tasks. D. absolute advantage creates specialization among laborers.