Comparative advantage is defined as

A) producing all goods at lower opportunity costs than other countries can.
B) producing more output of all goods than anyone else can.
C) producing one good at a lower opportunity cost than another country can.
D) the ability to produce more output from given inputs than anyone else can.


Answer: C

Economics

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Measuring the sensitivity of bank profits to changes in interest rates by multiplying the gap for several maturity subintervals times the change in the interest rate is called

A) basic gap analysis. B) the maturity bucket approach to gap analysis. C) the segmented maturity approach to gap analysis. D) the segmented maturity approach to interest-exposure analysis.

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If a person is waiting to be called back to a job from which she has been laid off, how is she classified by the Bureau of Labor Statistics?

A) as not in the labor force B) as an unemployed person C) as an employed person D) as a discouraged worker

Economics

When goods do not have a price, which of the following primarily ensures that the good is produced?

a. buyers b. sellers c. the market d. government

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Exhibit 6-11 Short-run cost schedule for pizzeria's hourly production TotalProduct TotalCost 0 pizzas $  20 10     70 20   100 30   150 40   250 In Exhibit 6-11, the average total cost or producing 40 pizzas per hour is equal to:

A. $5 per pizza. B. $5.75 per pizza. C. $6.25 per pizza. D. $10 per pizza.

Economics