The law of comparative advantage applies to exchange betwee
What will be an ideal response?
individuals.
b. regions.
c. nations
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Zane's Vanes is a service that restores old weather vanes. Zane has just spent $125 purchasing a 1920s-era weather vane which he expects to restore and sell for $500 once the work is completed
After having spent $125, Zane realizes that he will need to spend an additional $200 on materials to complete the restoration. Alternatively, he can sell the weather vane without restoring it for $200. What is his marginal benefit if he sells the weather vane without restoring it? A) $75 B) $125 C) $200 D) $300
Even in 1928, non-bank sources provided more funds for brokers' loans in the stock market than did the nation's banks
Indicate whether the statement is true or false
According to the market data for good X in the above table, a stable equilibrium price is established at
A) $2. B) $4. C) $6. D) $8.
Opportunity cost refers to how many inputs a producer requires to produce a good
a. True b. False Indicate whether the statement is true or false