Supply-side economics is a term associated with the views of

a. Ronald Reagan and Arthur Laffer.
b. Karl Marx.
c. Bill Clinton and Greg Mankiw.
d. Milton Friedman.


a

Economics

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The Fed is part of the executive branch of the federal government

a. True b. False Indicate whether the statement is true or false

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The principle of comparative advantage holds that nations should

a. specialize in activities for which they have the lowest opportunity cost. b. strive to become self-sufficient in production. c. produce only goods and services for which they have absolute advantage. d. become less labor-intensive and more capital-intensive.

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A grocery store sells soup for $1.50 a can, or $2.50 for two cans. To a customer, the marginal cost of buying the second can of soup is

a. $1. b. $1.25. c. $1.50. d. $2.50.

Economics