Following the principle of comparative advantage, specialization:
a. permits greater levels of total production than would be attained without it.
b. increases the dependency of countries on trade.
c. both of the above.
d. neither of the above.
c
Economics
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In the long run
A) GDP = potential GDP. B) unemployment is below its natural rate. C) LRAS and SRAS lie on the same line. D) unemployment is above its natural rate.
Economics
It is generally true that modest increases in the minimum wage help workers that keep their jobs more than it hurts workers that lose their jobs.
Answer the following statement true (T) or false (F)
Economics