All industrialized countries have become "service economies." Which factor helps explain this shift?
a. Trade unionism and failure of the manufacturing sector to grow.
b. Information age and labor saving innovation in manufacturing.
c. Non availability of industrial labor with required skills.
d. Absence of competition in the service sector.
b
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Discuss the relationship between the aggregate supply curve and the short-run Phillips curve
What will be an ideal response?
Refer to Table 2-16. What is Estonia's opportunity cost of producing one board foot of lumber?
A) 0.2 cell phones B) 5 cell phones C) 8 cell phones D) 32 cell phones
The opportunity cost of college is the same for all students who are receiving full-tuition scholarships
a. True b. False
Which demand curve would best represent a monopolistic competitor?
A. D1
B. D2
C. D3
D. None of these curves represent a monopolistic competitor.