Refer to Table 9-2. Select the statement that accurately interprets the data in the table
A) Gabriel has a comparative advantage in baking pies and baking cakes.
B) Gabriel has an absolute advantage in baking cakes.
C) Gabriel has a comparative advantage in baking pies.
D) Sarita has a comparative advantage in baking pies.
C
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Explain the differences between real GDP and nominal GDP
What will be an ideal response?
The United States first became a creditor nation in the year _______.
Fill in the blank(s) with the appropriate word(s).
Because a monopolist is the sole producer in its market, it can necessarily alter the price of its good
a. by adjusting the quantity it supplies to the market. b. by changing its marginal cost. c. without affecting its average total cost. d. without affecting the quantity sold.
The successful commercial introduction of a new product, the use of a new method, or the creation of a new form of business enterprise is called:
A. innovation. B. invention. C. creative destruction. D. diffusion.