Author Question: According to the principle of comparative advantage, total output and consumption levels will be ... (Read 43 times)

dalyningkenk · **on:** Jun 30, 2018

According to the principle of comparative advantage, total output and consumption levels will be highest when goods are produced in nations according to which of the following conditions?
a. Opportunity costs are lowest. b. Absolute advantages are highest.
c. Opportunity costs are equal. d. Absolute advantages are lowest.

Question 2

Say's Law refers to the concept that:
a. increases in aggregate demand create unionization.
b. demand creates its own supply.
c. supply creates its own demand.
d. flexible wages affect price levels.