________ is the ability to produce more of a good or service than competitors when using the same amount of resources
A) Comparative advantage B) Trade autarky
C) Trade superiority D) Absolute advantage
D
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For the purchasing power of money to increase, the price level has to fall
Indicate whether the statement is true or false
When there is a surplus of a product in an unregulated market, there is a tendency for
A. price to rise. B. quantity demanded to increase. C. quantity supplied to decrease. D. price to fall.
If the price-consumption curve is upward sloping when the price of the good measured on the horizontal axis changes, then the demand curve for that good will be upward sloping
Indicate whether the statement is true or false
Most of the state and local government employees are in what area?
A. Health care B. Education C. Administration D. Highways