Demographic handicaps and discrimination are primarily responsible for the extent of poverty

Specialization leads to

a. increases in production because labor uses more advanced technology b. decreases in production because each resource becomes less productive c. increases in production because more resources are being used d. increases in production because each resource becomes more productive e. increases in production because capital is more productive than labor

If a shortage of a good exists in the market,

a. the price is higher than its equilibrium level b. the quantity demanded is less than the quantity supplied c. the quantity demanded exceeds the quantity supplied d. there is an excess supply of the good e. the price will fall