Which is the best explanation for why standard of living only increases through productivity a. prices are determined by the standard of living. b. the more goods that are available, the lower prices will be. c. purchasing power increases when there is more consumer choice. d. productivity increases the money supply in an economy. e. more goods are available without having to come by additional resources.

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c.increase prices

Your take on decision making process

Suppose portugal has 700 workers and 26,000 units of capital, and france has 18,000 workers and 700 units of capital. technology is identical in both countries. assume that wine is the capital-intensive good and cloth is the labor-intensive good. which of the following statements is correct if the nations start trading with each other? a) wages will increase in portugal.b) rental rates in france will increase.c) wages in france will decrease.d) rental rates in portugal will increase.