In economics, what is meant by “absolute advantage”?
a. entrepreneurial ability
b. using fewer resources
c. lower opportunity cost
d. having the most workers
b. using fewer resources
Economics
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Which of the following increases the demand for money?
A) an increase in the costs of transferring between money and non-money accounts B) a decrease in real GDP C) a decrease in the price level D) declining preferences by consumers for holding money
Economics
Increases in the price level
A) decrease the opportunity cost of holding money. B) increase the quantity of money needed for buying and selling. C) increase the opportunity cost of holding money. D) decrease the quantity of money needed for buying and selling.
Economics