When you specialize in a task that you do best, you are applying the:
a. law of supply.
b. law of comparative advantage.
c. law of demand.
d. law of absolute advantage.
b
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Which of the following is true?
A) The supply of credit and labor demand are positively correlated. B) The supply of credit and the quantity of real output are unrelated. C) The supply of credit and the quantity of real output are positively correlated. D) The supply of credit and labor demand are negatively correlated.
Suppose the Federal Reserve desires to raise the level of planned investment in the economy
It either has to hope that an improvement in business confidence shifts the rate-of-return line to the ________ , or it has to take direct action by ________ the interest rate. A) right, raising B) right, lowering C) left, raising D) left, lowering
In Figure 5-1 above, the impact of automatic stabilization is depicted by the movement from
A) A to F. B) A to B. C) A to C. D) D to A.
The first United States income tax was instituted in 1913
a. True b. False Indicate whether the statement is true or false