If your income goes down, you will probably purchase fewer goods and services.

The extent of the decline in output associated with the imposition of an employment tax depends on the

A) slope of the labor supply curve. B) tax rate. C) wage rate. D) slope of the labor demand curve.

Comparative advantage is the ability to

A) perform an activity at a lower opportunity cost. B) determine who your best trading partners are. C) determine the best use of capital goods. D) convince others of the best choices to make in their own self-interest.