When using the principle of comparative advantage, the person with no absolute advantage should perform the job in which he or she has
a. a 50 percent disadvantage.
b. a 75 percent disadvantage.
c. a lesser disadvantage.
d. been trained.
c. a lesser disadvantage.
You might also like to view...
If a country wants maximum flexibility to pursue its domestic macroeconomic goals, it:
A. should use the gold standard. B. does not matter what type of exchange rate system it uses. C. should use a fixed exchange rate. D. should use a flexible exchange rate.
Since property seized through eminent domain must be taken for public use, the government cannot legally sell this seized property to private investors
Indicate whether the statement is true or false
One goal a firm tries to achieve when it advertises a product is to
A) make the demand curve for the product more elastic. B) make the demand curve for the product unitary elastic. C) make the demand curve for the product more inelastic. D) shift the demand curve for the product to the left.
The aggregate expenditure model focuses on the short-run relationship between ________ and ________
A) unemployment; inflation B) planned inventories; unplanned inventories C) real spending; real GDP D) nominal spending; nominal GDP