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The War Powers Resolution

question 38

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The War Powers Resolution


Definitions:

Labor Productivity

A measure of economic performance calculated by dividing total output by the total number of hours worked.

Wages

Payments made to laborers or employees for their work or services, typically provided on an hourly, daily, or piecework basis.

Pauper Labor Fallacy

The incorrect assumption that lower production costs in countries with cheaper labor will always harm the economy of wealthier countries by taking away jobs.

Comparative Advantage

The ability of an individual or country to produce a certain good or service at a lower opportunity cost than others.

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