What is the fundamental basis for trade among nations?
a. shortages or surpluses in nations that do not trade
b. misguided economic policies
c. absolute advantage
d. comparative advantage
d
Economics
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Refer to the table shown. The average product when eight workers are employed is:Number of workersTotal output142103184285356417458489501049
A. 3. B. 4. C. 5. D. 6.
Economics
If the U.S. system of unemployment insurance did not exist, one would predict that
A. workers would never become unemployed. B. workers in jobs that face seasonal cycles of unemployment would be paid higher wages. C. no worker would accept a job that is associated with seasonal unemployment. D. workers who became unemployed would remain unemployed for longer durations. E. seasonal unemployment would cease to exist.
Economics