When a rich nation buys a product made in a poor nation, in the poor nation the demand for labor ________ and the wage rate ________
A) increases; rises
B) increases; falls
C) decreases; rises
D) decreases; falls
A
Economics
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The figure above shows the supply and demand curves for pizza. If the market is at its competitive equilibrium, what area in the graph above represents:
a. consumer surplus? b. producer surplus?
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Why do economists prefer using the term economic fluctuation rather than business cycle?
a. political correctness b. number of parameters involved c. excessive volatility of the cycles d. lack of regularity of a cycle
Economics