If young business professionals in America suddenly decide that driving German-made cars is an important status symbol, net exports will tend to ________ causing aggregate demand to ________, everything else held constant

A person has a comparative advantage in an activity whenever she

A) has an absolute advantage in the activity. B) can perform the activity at a lower opportunity cost than another person can. C) can do the activity in less time than anyone else. D) can do everything better than anyone else.

At the profit-maximizing level of employment, the monopsonist

A) pays a wage equal to MRP. B) pays a wage greater than MRP. C) pays a wage less than MRP. D) pays a wage equal to MFC.