From an initial long-run equilibrium, if aggregate demand grows faster than long-run and short-run aggregate supply, then Congress and the president would most likely

All individuals, even Bill Gates, must select among alternative goods because of

A) pollution. B) global warming. C) scarcity. D) poverty.

"Trade raises the economic well-being of a nation in the sense that the gains of the winners exceed the losses of the losers.". This statement is correct for a nation that exports manufactured goods, but it is not correct for a nation that imports manufactured goods

a. True b. False Indicate whether the statement is true or false