Heartland and Soulland) The country with a comparative advantage in the production of drill presses is:
A) Heartland.
B) Soulland.
C) neither; they both use the same technology.
D) neither; they both use the same amount of resources.
Ans: B) Soulland.
You might also like to view...
Which of the following are considered sources of bias in the CPI?
a. Prices changing too rapidly; substitution, new technologies; and quality changes. b. Prices changing too rapidly; substitution; quality changes; and growth in discounting. c. Quality changes; new technologies; prices changing too rapidly; and growth in discounting. d. Substitution; new technologies; prices changing too rapidly; and growth in discounting. e. Quality changes; new technologies; substitution; and growth in discounting.
In the United States, the number of hours worked per person has decreased since 1800. How would growth rates since 1800 be different if they were calculated for real GDP per capita instead of GDP per hour worked?
What will be an ideal response?
If Dalene's marginal benefit from consuming another cookie is greater than the price of the cookie, then
a. Dalene will not purchase any more cookies b. the opportunity cost of the cookie is lower than the price c. Dalene's utility will decrease if she purchases the cookie d. Dalene will increase her total satisfaction by purchasing the additional cookie e. she has purchased too many cookies
A recent push in development economics is to:
A. put more focus on a program's effectiveness. B. fund only those programs that prove to be effective. C. stop the trial and error process of funding programs that "might" work. D. All of these statements are true.