Assume Congress enacts a $10 billion increase in spending and a $10 billion tax increase to finance the additional government spending. The result of this balanced-budget approach is a:

Refer to the above table. If opportunity costs are constant, each nation produces only the one good for which it has a comparative advantage, and trade can occur between the two countries

A) country X will produce product A and country Y will produce product B. B) country X will produce product B and country Y will produce product A. C) country X will refuse to trade with country Y since country X has a comparative advantage in both products. D) country Y will refuse to trade with country X since country Y has a comparative advantage in both products.

A physician's knowledge and skills are referred to by economists as

a. human capital b. labor c. physical capital d. entrepreneurship e. intellectual raw materials