Author Question: Refer to Figure 18.3. Livonia has a comparative advantage in the production of A) pogo sticks. B) ... (Read 140 times)

michelleunicorn · **on:** Jun 30, 2018

Refer to Figure 18.3. Livonia has a comparative advantage in the production of

A) pogo sticks. B) scooters.
C) both scooters and pogo sticks. D) neither scooters nor pogo sticks.

Question 2

Holding all other influences constant, the quantity of labor supplied in a given time period depends

A) directly on the real wage rate so that a higher real wage increases the quantity of labor supplied.
B) inversely on the real wage rate so that a higher real wage decreases the quantity of labor supplied.
C) on the money wage rate not the real wage rate.
D) directly on the quantity of labor demanded.
E) inversely on the quantity of labor demanded.