The oldest theory of comparative advantage is based on:
a. factor abundance.
b. productivity differences.
c. product life cycles.
d. preferences.
e. human skills.
b
Economics
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The average tax rate is the rate at which an additional dollar earned is taxed
a. True b. False Indicate whether the statement is true or false
Economics
The loss in social surplus that occurs when the economy produces at an inefficient quantity is called
a. efficiency. b. consumer surplus. c. social surplus. d. deadweight loss.
Economics