As an economy ______________, it can increase production and _____________.
A. uses its comparative advantage; real GDP per person
B. uses its comparative advantage; monetary exchange
C. moves away from specialisation; real GDP per person
D. enacts a democracy; require less investment per person
Answer: A. uses its comparative advantage; real GDP per person
Economics
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If the minimum wage law sets a price floor that is below the equilibrium wage in the unskilled labor market, the minimum wage will create a shortage of unskilled labor
Indicate whether the statement is true or false
Economics
Critics of supply-side economics argue that tax cuts favored by supply-siders will have the greatest effect on
A. aggregate supply. B. tax receipts. C. aggregate demand. D. the money supply.
Economics