Two nations, Alpha and Beta, can both produce steel. Alpha has a comparative advantage in the production of steel if it:
A. Can produce more steel than Beta
B. Uses more steel than Beta
C. Has a higher domestic opportunity cost of producing steel than Beta
D. Has a lower domestic opportunity cost of producing steel than Beta
D. Has a lower domestic opportunity cost of producing steel than Beta
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The most liquid asset is
A) a house. B) stocks of a highly profitable company. C) gold. D) money.
On any given day we know a salesman can earn $0 with a 40% probability, $100 with a 20% probability or $300 with 40% probability. His expected earnings equal
A) $0. B) $140. C) $300. D) It cannot be determined from the available information.
The imposition of a tax on a product
A) shifts the supply curve to the right. B) shifts the demand curve to the right. C) shifts both the supply and the demand curve to the right. D) shifts the supply curve to the left.
An anti-growth view would be that there may be a significant trade off between productivint and
What will be an ideal response?