When a region can produce a good or service at a lower opportunity cost than others, it is said to have a(n) ______ advantage.
a. comparative
b. productivity
c. specialized
d. absolute
a. comparative
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It is difficult for competent authorities to agree on the best definition of the money stock because money is composed primarily of the liquid liabilities of financial institutions
A) and liquidity implies the absence of certainty. B) of which there are many different kinds whose relative liquidity is continually changing. C) on which we simply have no reliable data. D) whose solvency is highly questionable.
The figure above illustrates a linear demand curve. If the price falls from $8 to $6
A) total revenue increases. B) total revenue decreases. C) total revenue remains unchanged. D) the quantity demanded increases by less than 20 percent.
Motivation can be divided into two types:
a. Intrinsic and extrinsic b. Planned and non-planned c. Mysterious and obvious d. Achievement-oriented and open-ended
In 1996, an advisory committee of economists that studied the CPI found
a. no bias in the CPI b. that in a typical year the CPI overstates the inflation rate by at least 1.1 percent per year c. that the CPI consistently overestimates the inflation rate by less than 1 percent per year d. that the CPI typically underestimates the inflation rate e. that the CPI is somewhat erratic; it occasionally underestimates and occasionally overestimates the inflation rate