Comparative advantage is the ability of a country to produce a good at a higher opportunity cost relative to other countries
Indicate whether the statement is true or false
false
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Which of the following will cause a decrease in the standard of living for an individual?
A. a decrease in socioeconomic status B. an increase in wealth C. an increase in income D. a decrease in disease
A social cost that is not fully paid by the individual using an automobile is
A) traffic congestion. B) gasoline and oil. C) insurance. D) depreciation of the vehicle.
The smaller the marginal propensity to save, other things constant, _____
a. the smaller the marginal propensity to consume b. the smaller the multiplier c. the flatter the consumption function d. the steeper the consumption function e. the steeper the saving function
Describe how government is involved in creating a monopoly. Why might the government create one? Give an example