If you can produce more of something than others with the same resources, you have
A) a free-market economy.
B) an absolute advantage.
C) an efficient production system.
D) a comparative advantage.
B
Economics
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According to supply-side theory, if one starts from a balanced budget, a cut in taxes will tend to cause ________
A) a budget deficit B) no change in the federal government budget C) a decrease in aggregate supply and an increase in aggregate demand D) a budget surplus
Economics
The supply curve of a firm in a competitive market is the average variable cost curve above the minimum of marginal cost
a. True b. False Indicate whether the statement is true or false
Economics