During World War I (191418), hourly wages
(a) decreased in nominal and real terms.
(b) increased in nominal and real terms.
(c) increased in nominal terms but decreased in real terms.
(d) decreased in nominal terms but increased in real terms.
Question 2
English mercantilism recognized the law of comparative advantage, thus permitting individuals to specialize in producing those goods and services which they could produce at relatively low opportunity costs and trading those items for those which
they could not. Indicate whether the statement is true or false
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