The ability of one person or nation to produce a good at a lower absolute cost than another is called a(n)
A) comparative advantage. B) specialization advantage.
C) market advantage. D) absolute advantage.
D
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In the United States, income taxes are ________
A) regressive B) progressive C) proportional D) marginal
If workers leave a country to seek out better opportunities in another country, then this will
A) shift the short-run aggregate supply curve of the original country to the right. B) shift the short-run aggregate supply curve of the original country to the left. C) move the original economy up along a stationary short-run aggregate supply curve. D) move the original economy down along a stationary short-run aggregate supply curve.
The national debt
A. is increased by budget surpluses. B. is the value of the government’s indebtedness at a moment in time. C. exceeded $20 trillion in 2014. D. all of the above are correct.
Without regulations, monopolists will produce at an output level where marginal benefit is greater than marginal social cost.
Answer the following statement true (T) or false (F)