Comparative advantage is most closely related to which of the following concepts?
A) efficiency
B) opportunity cost
C) fairness
D) productivity
E) competition
B
Economics
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If the product produced by workers experiences a decrease in demand, the value of marginal product of labor will:
A. decrease, increasing the demand for labor. B. increase, increasing the demand for labor. C. decrease, decreasing the demand for labor. D. increase, decreasing the demand for labor.
Economics
Demand-side inflation occurs when
A. increases in aggregate demand are not matched by increases in aggregate supply. B. aggregate demand falls more rapidly than aggregate supply. C. increases in aggregate supply outstrip increases in aggregate demand. D. long-run aggregate demand rises faster than short-run aggregate supply.
Economics