According to this Application, workers in the EU were more productive than workers in Latvia in the 1990s, yet despite this, EU nations chose to trade with Latvia. Engaging in trade with Latvia allowed ________ to become more productive
A) workers in Latvia but not workers in the EU B) neither workers in the EU nor in Latvia
C) workers in the EU but not workers in Latvia D) workers in both the EU and in Latvia
D
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When output is less than the efficient level,
A) consumers are willing to pay more for another unit than it costs to produce the unit. B) the amount consumers are willing to pay equals the cost of production. C) the cost of production is greater than the price consumers are willing to pay. D) the production costs can't be measured. E) the marginal cost of producing the good must be greater than the marginal benefit from the good.
The prefrontal cortex uses both gut feelings and cognition in the decision-making process.
Answer the following statement true (T) or false (F)
The real business cycle theory is based on all of the assumptions below EXCEPT
A. flexible prices. B. the absence of rationality among people. C. pure competition. D. flexible wages.
Refer to the information provided in Figure 26.3 below to answer the question(s) that follow.
Figure 26.3Refer to Figure 26.3. Following the recession of 2008-2009, many firms in the United States eventually began investing in new capital. This increase in investment in new capital would cause
A. the short-run aggregate supply curve to shift from AS1 to AS2. B. the economy to move from Point C to Point B along AS1. C. the short-run aggregate supply curve to shift from AS1 to AS0. D. the economy to move from Point B to Point A along AS1.