Following the principle of comparative advantage, specialization:
a. permits greater levels of total production than would be attained without it.
b. increases the dependency of countries on trade.
c. both of the above.
d. neither of the above.
c
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
"A single-price monopolist will always charge a price that is on the elastic range of its demand." Explain why the previous statement is correct or incorrect
What will be an ideal response?
Rising unemployment and decreased business confidence could be signs that the economy is at the start of a(n):
A. recession. B. boom. C. recovery. D. expansion.
In a closed economy, each unit of output is either consumed by households or invested
a. True b. False Indicate whether the statement is true or false