Answer:
trade diversion
Explanation:
Trade diversion results from changing an efficient supplier or trading partner for a not so efficient trading partner. This change usually results from trade agreements or customs unions like NAFTA (or USMCA) or the European Union that benefit less efficient producers.
Trade diversion results in concentrating production in countries with high opportunity costs that do not possess real comparative advantages, but rather political advantages.
Answer: The correct answer is "D. greater; less".
Explanation: The consumer surplus from water, which is cheap, is <u>greater </u>than the consumer surplus from gold, which is expensive. The total utility from gold is <u>less</u> than the total utility from water.
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Explanation:
Specialization involves division of an organization's work and applies motivational theories to jobs to increase satisfaction and performance."
Answer:
The answer is C.
Explanation:
If workers demand and receive higher real wages the cost of production will rise. This is because workers(labor) is an input of production. The wages is the reward for the direct labor for work done. So increase in wages lead to an increase cost of production.
Due to this, the short-run aggregate supply curve shifts leftward i.e reduces the market supply because producers will produce less at a high cost of production and produce more at a lower cost of production.
