Comparative advantage is related most closely to which of the following?
a. output per hour
b. opportunity cost
c. efficiency
d. bargaining strength in international trade
b
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For a decade after the Land Ordinance of 1785, pioneering in parts of the Northwest Territory was restricted by all of the following except
a. Indian troubles b. French interference c. English interference d. high prices of land
The number of seats available in a stadium is fixed at 80,000. The equilibrium price for a ticket to a football game at the stadium is $30. The equilibrium price for a ticket to a soccer match at the stadium is $10. Which of the following is true?
A. The demand for each football game must be more than the demand for each soccer match. B. The supply of soccer matches must be less elastic than the supply of football games. C. The demand for each soccer game must be greater than the demand for each football game. D. Football games must be more expensive to produce than a soccer match.
The above figure shows the apartment market in Big City. A rent ceiling of $1400 per month would
A) create a black market. B) increase search activity. C) not affect the market. D) create a surplus of apartments.
How did the United States become a net debtor in the 1980s? Is our foreign debt a significant problem? Explain
What will be an ideal response?