If the price of flash memory cards increases, then there will be ________ of flash memory cards
A) a decrease in the supply
B) an increase in the supply
C) an increase in the quantity supplied
D) a decrease in the quantity supplied
C
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Refer to the scenario above. Charles will receive a payoff of ________ if Beth trusts him and he defects
A) $50 B) $0 C) $20 D) $10
Which of the following is a public good?
A) Telephone service B) Broadcast TV C) A daily newspaper D) The Red Cross E) all of the above
A wage differential between skilled and unskilled workers exists because skilled workers have higher marginal products than unskilled workers
a. True b. False Indicate whether the statement is true or false
Suppose Jim and Tom can both produce baseball bats. If Jim's opportunity cost of producing baseball bats is lower than Tom's opportunity cost of producing baseball bats, then
a. Tom must have an absolute advantage in the production of baseball bats. b. Jim must have an absolute advantage in the production of baseball bats. c. Tom has a comparative advantage in the production of baseball bats. d. Jim has a comparative advantage in the production of baseball bats.