Competition would probably be abolished if society could find a way to abolish
A) inequality.
B) scarcity.
C) money.
D) economists.
B
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What factors can push the real wage rate above its equilibrium level? Briefly explain each factor
What will be an ideal response?
International regulation occurs at two levels, one in which a specific government regulates the activities of individual firms operating within the country, and another in which several nations are involved
a. True b. False Indicate whether the statement is true or false
Why might reforms to encourage saving lead to a less egalitarian society?
Suppose that land is specific to agriculture, capital is specific to manufacturing, and labor is mobile between sectors. According to the specificfactors model, if this country begins importing manufactured goods, which factor will experience the highest unemployment?
a. Labor b. Capital c. Land d. No factors will experience unemployment.