Other things being equal, you can make $20,000 a year teaching, $25,000 a year typing, $30,000 a year driving a cab, and $40,000 a year as a chef. You have a comparative advantage in
A) teaching.
B) driving a cab.
C) being a chef.
D) one of them but we need more information to know which.
C
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A larger labor force will allow the economy to produce more total output
Indicate whether the statement is true or false
A lending of a country's savings that occurs when the country has a trade deficit and its citizens purchase real and financial assets from abroad is called a capital inflow
Indicate whether the statement is true or false
The multiplier will be greater, other things being equal: a. the smaller the fraction of each dollar earned that goes to taxes
b. the larger the MPC. c. the smaller the fraction of each dollar of disposable income that goes to saving. d. all of the above are true.
When Pepsi is considering a price hike, it needs to consider how Coke may react. This situation is called:
A. mutual interdependence. B. price leadership. C. collusion. D. monopolistic competition.