The larger the number of suppliers, the _____________the market supply.
Fill in the blank(s) with the appropriate word(s).
Ans: greater
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When the marginal product of labor exceeds the average product of labor, the average product must increase when employment increases
Indicate whether the statement is true or false
The comparative advantage in a specific good can shift over time from one country to another, as the other countries can produce it at a cheaper cost after imitating the technology
a. True b. False Indicate whether the statement is true or false
Explain how the Federal Government's attempts to control inflation can affect our current account balance
Which of the following conditions during 2008-2009 most closely paralleled the economic conditions of the Great Depression?
a. record-high unemployment rates for a period of many years b. a sharp and prolonged contraction in the money supply c. significant increases in taxes and trade restrictions in order to counter budget deficits d. frequent policy changes that generated an unstable and unpredictable economic climate