Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, ________ has an absolute advantage in selling cars and ________ has an absolute advantage in selling trucks.
A. Larry; Ralph
B. Ralph; Larry
C. Larry; Joe
D. Joe; Joe
Answer: A
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In an unbalanced oligopoly
a. only two firms make up the oligopoly b. the sales of the leading firms are distributed unevenly c. the sales of the leading firms are distributed evenly d. the sales of the 4 leading firms is less than 50 percent e. the market share of the 4 leading firms equals 100 percent
In the shortrun (specificfactors) model, foreign direct investment is expected to cause a(n) ________ in the production of the capitalintensive good and a(n) ________ in the production of the landintensive good in the receiving country
a. decrease; decrease b. increase; decrease c. decrease; increase d. increase; increase
In the spring of 2002 we were in the _____ phase of the business cycle.
A. recovery B. prosperity C. depression D. recession
Assume the one-year interest rate on a bond is 8% and the expected one-year rate a year from now is 12%. According to the expectations theory of the term structure of interest rates, the two-year rate will be
A. 8%. B. 10%. C. 12%. D. 22%.