A nation has a comparative advantage in producing a good, if
A. more people in the country are employed in the production of the good than in other countries.
B. it has either a greater productivity advantage or a smaller productivity disadvantage.
C. it has a higher standard of living than its trading partners.
D. it also has an absolute advantage in producing the good.
Answer: B
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Last year in a nation to the south, net domestic product at factor cost equaled $3,300 billion
Indirect taxes minus subsidies equaled $200 billion, depreciation equaled $800 billion, the statistical discrepancy equaled zero, and net operating surplus equaled $150 billion. The country's GDP was A) $2,300 billion. B) $3,500 billion. C) $4,300 billion. D) $4,450 billion. E) $4,150 billion.
All of the following describe the conflict between divisions EXCEPT
a. some activities across divisions benefit from coordination b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for how well their own division is run d. A divisional manager does not have authority to run her division efficiently
If the government wanted a tax to raise a great deal of revenue but not burden producers much, it would want to tax an industry with
a. elastic supply and demand curves. b. inelastic supply and demand curves. c. inelastic supply and elastic demand. d. elastic supply and inelastic demand.
As a general rule, what impact does technological progress have on a PPC?
What will be an ideal response?