A country with a lot of land relative to its population may have a comparative advantage in:
A. capital-intensive activities.
B. labor-intensive activities.
C. land-intensive activities.
D. technology-intensive activities.
C. land-intensive activities.
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Betty consumes only milkshakes and sandwiches and maximizes her total utility. Suppose that the prices of a milkshakes and sandwiches both double and at the same time Betty's income doubles
Betty buys ________ sandwiches and her marginal utility from sandwiches ________. A) more; increases B) fewer; decreases C) more; decreases D) the same number of; remains the same
The federal government gets most of its revenue from
A. personal income taxes. B. property taxes. C. sales taxes. D. payroll taxes.
The three-month Treasury bill rate is the
A. interest rate used by commercial banks to loan to other commercial banks. B. most widely followed short-term interest rate. C. same as the prime rate. D. interest rate the Fed charges commercial banks for borrowing.
In the above figure, the initial supply of loanable funds curve is SLF0 and the initial demand for loanable funds curve is DLF0. An economic expansion that raises disposable income and the expected profit would
A) only shift the supply of loanable funds curve rightward to a curve such as SLF1. B) shift the supply of loanable funds curve rightward to a curve such as SLF1, and shift the demand for loanable funds curve rightward to a curve such as DLF1. C) only shift the demand for loanable funds curve rightward to a curve such as DLF1. D) have no effect on either the demand for loanable funds curve or the supply of loanable funds curve.