Nations would gain from trade if a(n) _________ exists
a. absolute advantage
b. exchange rate
c. specialization
d. comparative advantage
e. terms of trade
D
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As contrasted to the mainstream view, Keynesian economists believe that ________ than mainstream economists believe
A) the multiplier effect is larger B) the burden of government debt on future generations is larger C) fiscal stimulus is weaker D) potential GDP is smaller E) the real GDP growth rate is higher
List three reasons why one type of labor may be paid more than another
What will be an ideal response?
The "cost disease of personal services" phenomenon helps explain why medical care has become so expensive
a. True b. False Indicate whether the statement is true or false
Suppose the long-run average cost curve is U-shaped. When LRAC is in the increasing stage, there exist:
A. economies of scale. B. diseconomies of scope. C. diseconomies of scale. D. economies of scope.