If firms and workers could predict the future price level exactly, the short-run aggregate supply curve would be
A) downward sloping. B) horizontal.
C) upward sloping. D) vertical.
D
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The emergence of English as the de facto world language has ________ a comparative advantage in the production of books, movies and popular music:
A. given English-speaking countries B. given all countries C. had no effect on which country has D. given non-English-speaking countries
It is not possible to have an absolute advantage in producing a good or service without having a comparative advantage
Indicate whether the statement is true or false
"Learning by doing" results in decreased average costs of production and is illustrated by a downward shift of the firm's long-run average cost curve
Indicate whether the statement is true or false
When investment increases, there is usually no impact on household income.
Answer the following statement true (T) or false (F)