Starting from potential output, if consumer confidence decreases and consumers decide to spend less, then this will generate a(n) ________ gap and inflation will ________.

Is it possible to have economic growth with no opportunity cost? a. Yes, economic growth requires no current sacrifices-only the passage of time

b. No, but economic growth is always worth whatever sacrifice is required. c. No, because growth depletes the stock of knowledge so that more growth today means less growth tomorrow. d. No, because growth requires the sacrifice of consumption goods in order to invest in such things as capital formation and research and development.

Assuming a CEO has to sacrifice more than his assistant in order to engage in full-time typing, we would say that his assistant has a(n) ________ advantage in typing versus the CEO

A) absolute B) comparative C) pecuniary D) overwhelming