Considering two countries X and Y, country X has an absolute advantage in the production of a good when it can produce the good using fewer resources than country Y
Indicate whether the statement is true or false
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Bill loses his job as a loan officer when the bank he works for is bought up by a larger financial institution. Bill has the skills necessary to find a new job, so as Bill searches for work he is best considered an example of
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) a discouraged worker.
When an airline reduces its fares, other airlines typically match the action. But when an airline increases its fare, other airlines do not follow suit. Which oligopoly model cartel, price leadership, or kinked demand best fits the airline industry as described? Justify your choice and explain why the other models are less appropriate
A totalitarian leader
a. situational leadership b. participative leadership c. autocratic leadership d. laissez faire leadership
When the supply of blueberries increases while the demand for blueberries also increases, the equilibrium ________ of blueberries will definitely ________, ceteris paribus.
A. price; increase B. price; decrease C. quantity; increase D. quantity; decrease