The principle of comparative advantage helps explain trade between nations

Suppose the growth rate of GDP in the United States is 4.2 percent. If 2.9 percent and 1.3 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is

A) 0 percent. B) 1.3 percent. C) 2.9 percent. D) 4.2 percent.

Possible benefits of a monopoly include which of the following (choose all that apply)? a. a savings of fixed costs because only one firm supplies quantity demanded

b. greater opportunities for research due to long-run positive economic profits. c. government regulation is more effective because the firm is "too big to fail.". d. goods and services are provided at a lower price than under perfect competition because of a monopoly's decreasing average cost curve.