What does the process of specialization do for an economy?
a. It makes it more efficient.
b. It eliminates unemployment.
c. It fosters competition.
d. It makes it easier to control.
Answer: It makes it more efficient.
Economics
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The supply of labor curve is
A) vertical at potential GDP. B) upward sloping. C) downward sloping. D) horizontal at the equilibrium wage rate.
Economics
The figure above shows the price of a DVD player from 2003 to 2007
a) What type of graph is illustrated above? b) What is the trend in the price of a DVD player?
Economics