Daryn is raking leaves to earn money for his university's economics club. In the first hour, he rakes 8 bags of leaves. In the second hour, he rakes 6 bags of leaves. If he earns $8 per hour, the value of the marginal product of the second hour of labor is $16

An economic principle that explains why people pursue different occupations is

A) NAFTA. B) international trade. C) absolute advantage. D) comparative advantage.

When there is extremely high and volatile inflation in an economy, the decision-making of firms leads to a very ________ SAS curve and thus relatively ________ cycles in real GDP

A) steep, mild B) steep, violent C) flat, mild D) flat, violent