eal tput Demanded (Index Value) Output Supplied $200 300 $500 300 250 450 400 200 400 500 150 300 600 100 200 table gives aggregate demand and supply schedules for a hypothetical economy. If the price level is 250 and produc Multiple Cholce

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.