the long run, if an economy's consumption spending is $5 trillion, its planned investment = $2 trillion, government spending is $1 trillion, net tax revenue is $1 trillion, and ousehold savings are $2 trillion, total output should be a. O$7 trillion b. O$8 trillion c. O$11 trillion d. O$3 trillion e. O$5 trillion

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Comparative Advantage and Absolute Advantage Analysis

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