Specialization in production is important primarily because it:
A. results in greater total output.
B. allows society to avoid the coincidence-of-wants problem.
C. allows society to trade by barter.
D. allows society to have fewer capital goods.
Answer: A
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When the marginal product of labor is below the average product of labor, the average product must increase when employment increases
Indicate whether the statement is true or false
Japanese electronics exports were hurt in 2008 as a result of the recession. How would this decrease in exports have affected Japan's aggregate demand curve?
A) The aggregate demand curve would not have shifted, but there would have been a movement down the aggregate demand curve. B) The aggregate demand curve would have shifted to the right. C) The aggregate demand curve would not have shifted, but there would have been a movement up the aggregate demand curve. D) The aggregate demand curve would have shifted to the left.