The Economy is at Point B today after being at Point A for the past 5 years. Which of the following could cause the Economy to return to Point A (please check all that apply) LRAS Price Level LX AD₁ AD₂ AS Fed Sale of Bonds Quantity of Output Consumer Confidence Falls An increase in taxes A technological Advance The US $ Appreciating Foreign Incomes Rising An increase in government expenditures Business Optimism Rises An oil embargo Lowering of the Fed Funds Rate

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Comparative Advantage and Absolute Advantage Analysis

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