If an economy is operating at a point inside the production possibilities curve,
What will be an ideal response?
its resources are not being used efficiently.
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Price discrimination can be profitable if consumers can resell the product.
Answer the following statement true (T) or false (F)
A firm's employment of labor outside the country in which the firm is located is called
A) featherbedding. B) a lockout. C) outsourcing. D) dumping.
Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
A) increase. B) decrease. C) remain constant. D) not change in a way that can be predicted.
When countries specialize in producing those goods in which they have ________, they maximize their combined output and allocate their resources more efficiently.
A. an absolute advantage B. a greater demand C. export subsidies from the government D. a comparative advantage