Demand-pull inflationary pressure increases as the economy approaches full employment

Which of the following examples would most likely be caused by a price floor?

a. shortage of unemployed skilled professionals b. surplus of unemployed skilled professionals c. shortage of unemployed unskilled workers d. surplus of unemployed unskilled workers

In a two-nation world, comparative advantage in the production of a particular product means that one nation can produce

A. the product at a lower domestic opportunity cost than the other nation. B. more of the product than the other nation. C. the product with fewer inputs than the other nation. D. the product at lower average cost than the other nation.