The idea of comparative advantage is related to
A) the idea of opportunity cost.
B) the idea of absolute advantage.
C) using the worker with the most diverse sets of skills.
D) engineering efficiency.
A
Economics
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Values can be classified in several ways according to the book, which one of these was not listed
a. Absolute and relative b. Intrinsic and extrinsic c. Traditional and prophetic d. Instrumental and terminal
Economics
If a union negotiated a wage above the market equilibrium wage, we would find
A) a surplus of laborers at the negotiated wage. B) a shortage of laborers at the negotiated wage. C) higher efficiency of labor at the negotiated wage. D) lower worker productivity at the negotiated wage.
Economics