A lawyer once said, "I could paint my house and fix my plumbing if I just had some technical training and good tools. But, I would rather hire a painter and a plumber." When it comes to fixing a leaking sink, the plumber:
a. d and e.
b. charges more per hour than the lawyer does.
c. charges less per hour than the lawyer does.
d. is more efficient.
e. has a comparative advantage.
e
You might also like to view...
The quantity theory asserts that real GDP is
A) not influenced by the quantity of money. B) never different from potential GDP. C) equal to nominal GDP multiplied by the quantity of money. D) equal to nominal GDP divided by the quantity of money.
A trade policy that protects domestic producers from certain actions taken by foreign governments or firms is
A) illegal under WTO rules. B) called a contingent protection policy. C) considered a beggar-thy-neighbor policy. D) intended to protect domestic consumers.
In case of endogenous sample selection, OLS is unbiased but consistent.
Answer the following statement true (T) or false (F)
Does a state sales tax function as a progressive, regressive, or proportional source of revenue, and why?
What will be an ideal response?