The benefits of international trade include
a. more choice for consumers
b. efficiency gains from specialization
c. more competition
d. all of the above
e. (a) and (c) only
d. all of the above
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An increase in the money wage rate ________ and an increase in the money prices of raw materials ________
A) shifts the AS curve leftward; shifts the AS curve leftward B) shifts the AS curve rightward; shifts the AS curve rightward C) shifts the AS curve leftward; does not shift the AS curve D) shifts the AS curve leftward; shifts the AS curve rightward E) shifts the AS curve rightward; shifts the AS curve leftward
Theoretically, one can distinguish a demand-pull inflation from a cost-push inflation by comparing
A) how fast prices rise relative to wages. B) the unemployment rate with its natural rate level. C) when prices rise relative to wages. D) government debt to real GDP.