Country A can produce both wheat and oranges using fewer resources than country B. Which of the following statements is true?
A. Country A has a comparative advantage in producing both goods.
B. Country A has an absolute advantage in producing both goods.
C. Country B has no comparative advantage.
D. Country B must have an absolute advantage in producing one of the goods.
B. Country A has an absolute advantage in producing both goods.
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Which of the following statements is true?
A) Randomization allows for classification of participants according to their choice. B) The subjects in the treatment group and the control group of an experiment are treated identically, except along a single dimension. C) Randomization is not used in medical experiments. D) The subjects in the treatment group and the control group of an experiment are identical in all respects and they are treated identically.
Of the following, which determines the price a price searcher will be able to charge?
A) The costs of capital B) The costs of labor C) Advertising costs D) Demand E) A, B, and C above.
Low interest rates will persuade corporations to invest more right now.
Answer the following statement true (T) or false (F)
You decide to go to LEGOLAND after you visit Disneyworld in Orlando. The cost of going to LEGOLAND after you visit Disneyworld is the ________ cost of getting from Disneyworld to LEGOLAND.
A. efficiency B. opportunity C. profit maximizing D. marginal time and money