When Brazil can generate a product using fewer labor hours and ...

[azncindy619]

When Brazil can generate a product using fewer labor hours and resources than the United States, an economist would say that Brazil had:
 a. a comparative advantage in production of the product.
  b. an absolute advantage in production of the product.
  c. a higher opportunity cost of producing the product.
  d. no incentive to import the product, regardless of the cost-price conditions for other products.

Question 2

John Maynard Keynes and his followers argued that the Great Depression was primarily the result of:
 a. excessive government spending.
  b. large budget deficits.
  c. the perverse monetary policies of the Fed.
  d. insufficient aggregate spending on goods and services.

[strudel15]

Answer to Question 1

b

Answer to Question 2

d

[azncindy619]

Thank you

[strudel15]

Happy to help you