If the opportunity cost of producing one basketball in Romania is 3 Barbie dolls, while the opportunity cost of producing one basketball in Nigeria is 2 Barbie dolls, _______ has the comparative advantage in the production of basketballs.

A. Romania
B. Nigeria
C. both Romania and Nigeria
D. neither Romania nor Nigeria


B. Nigeria

Economics

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In a perfectly competitive market, which of the following determines the market price?

A) market demand and a firm's supply B) market supply and a firm's demand C) a firm's demand and its supply D) market demand and market supply

Economics

The practice of keeping high-risk assets on a bank's books while removing low-risk assets with the same capital requirement is known as

A) competition in laxity. B) depositor supervision. C) regulatory arbitrage. D) a dual banking system.

Economics

Which of the following is NOT a result of the ability of investors to hedge?

A) increased access to funds by firms and households B) investors are more willing to invest C) increased risk aversion D) slower economic growth

Economics

The production of a wireless earbud involves 5 stages. The value added after the first stage of production occurs is $1.20. The sale price of the wireless earbud is $2.50. Based on the above information, what amount is used to measure GDP?

A. $3.70 B. $1.30 C. $2.50 D. $1.20

Economics