An advance in technology shifts the production function upward and shifts the labor
A) demand curve leftward.
B) supply curve leftward.
C) demand curve rightward.
D) supply curve rightward.
C
Economics
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If a nation's terms of trade rises from 95 to 106, then we can conclude
a. the gains from international trade are reduced b. the ratio of export to import prices must have decreased c. its imports have become relatively cheaper compared to its exports d. its purchasing power is now lower than before e. that 106 is impossible because the terms of trade cannot exceed 100
Economics
A private good is a good that:
A. is nonrival. B. is not excludable. C. is provided only by private sectors. D. is consumed by a single person or household.
Economics