One of the main sources of comparative advantage is natural resources
Indicate whether the statement is true or false
TRUE
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As the price of computers falls, the quantity of computers demanded increases. This is an application of:
A. the production possibilities curve B. the law of demand C. the law of supply D. needs versus wants
In the long run, those who are hurt by the minimum wage are
a. employers in non-minimum wage industries b. employers who have to pay more c. consumers who have to pay more for goods d. all of these
An efficient tax is one that raises the desired tax revenue but creates the least possible
a. total burden. b. excess burden. c. tax incidence. d. tax shifting.
When the money market is drawn with the value of money on the vertical axis, the price level decreases if
a. either money demand or money supply shifts right. b. either money demand or money supply shifts left. c. money demand shifts right or money supply shifts left. d. money demand shifts left or money supply shifts right.