Economics can be viewed as a way to think about problems
Indicate whether the statement is true or false
True
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Natural resources include both plants and animals
Indicate whether the statement is true or false
If England buys hockey sticks from Canada, then:
A. Canada has the comparative advantage over England in making hockey sticks. B. England has the comparative advantage over Canada in making hockey sticks. C. England has an absolute advantage over Canada in making hockey sticks. D. Canada has an absolute advantage over England in making hockey sticks.
The _______________is the extra cost incurred when a business produces one additional unit of a resource.
Fill in the blank(s) with the appropriate word(s).
Use aggregate supply and demand analysis to explain real business cycle theory.
What will be an ideal response?