Pursuing comparative advantage means
A) adding up the plusses and minuses after a transaction.
B) doing it to the other person first.
C) making equal, fair exchanges for equally valued goods or services.
D) sacrificing something less valuable for the sake of something more valuable.
E) seeking relative status rather than absolute welfare.
D
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Because wage rates are so low in Africa, why don't Microsoft, Cisco and other major corporations close down their American operations and move to Africa?
What will be an ideal response?
Pension funds are partially guaranteed by the
A) Social Security Administration. B) Federal Deposit Insurance Corporation. C) Federal Reserve. D) Pension Benefit Guaranty Corporation.
Suppose that the current equilibrium price of gasoline is $3.50 per gallon and that the government passes a law that requires the price to be no more than $3 per gallon. What will be the effects?
What will be an ideal response?
A company unexpectedly announces a product recall due to safety concerns about its product. According to the efficient markets hypothesis, this news should
a. raise the price of the company's stock. b. not affect the price of the company's stock. c. reduce the price of the company's stock. d. More information is needed to answer the question.