"My brother is better at cooking, better at cleaning, and better at fixing the car than I am." Relative to me, my brother has
A) an absolute advantage in cooking, cleaning, and car repair.
B) a comparative advantage in cooking, cleaning, and car repair.
C) more intelligence than me.
D) more income than me.
A
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An advance in technology will
A) not shift the production function but will lead to a movement down along the production function. B) shift the production function downward. C) not shift the production function but will lead to a movement up along the production function. D) shift the production function upward.
A person’s portfolio of investments is the bundle of all the stocks, bonds, and other assets the person owns.
Answer the following statement true (T) or false (F)
Which of the following is one of the main revenue sources for state and local governments?
a. income taxes b. sales taxes c. estate taxes d. excise taxes
The fundamental cause of monopolies is barriers to entry
a. True b. False Indicate whether the statement is true or false