The principle of comparative advantage essentially states that
A) there are some goods for which the opportunity costs of production are the same regardless of who produces them.
B) some goods have high opportunity costs and low absolute costs.
C) specialization can reduce output rather than increase it.
D) total output of an economic system is greatest when each good is produced by those who have the lowest opportunity cost of producing the good.
D
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Young male adults provided the single largest group of migrants. This helped increase human capital in the U.S
Indicate whether the statement is true or false
Which of the following statements is false?
a. The sum of the unemployment rate and the employment rate always equals 100 percent. b. The sum of the number of employed persons and the number of unemployed persons equals the civilian non-institutional population. c. The labor force participation rate equals the number of persons in the civilian labor force divided by the number of persons in the total population. d. a, b, and c
Price discrimination is the business practice of
a. bundling related products to increase total sales. b. selling the same good at different prices to different customers. c. pricing above marginal cost. d. hiring marketing experts to increase consumers' brand loyalty.
According to purchasing-power parity, if two countries have the same price level because they have the same prices for all goods and services, then which of the following would equal 1?
a. the real exchange rate, but not the nominal exchange rate b. the nominal exchange rate, but not the real exchange rate c. the real exchange rate and the nominal exchange rate d. neither the real exchange rate nor the nominal exchange rate