If a nation can produce a more computers per year than any other nation, that nation has a(n) ________ advantage in the production of computers.
A. absolute
B. relative
C. comparative
D. natural
Answer: A
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The major role of a commercial bank is to
A) make mortgage loans. B) sell shares and use the proceeds to buy stocks. C) receive deposits and make loans. D) restrain the growth of the quantity of money.
If the average variable cost of a firm is falling, then the:
a. average fixed cost must be rising. b. marginal cost must be falling. c. marginal cost must be rising. d. marginal cost lies below the average variable cost. e. marginal cost lies above the average variable cost.
What arguments have been advanced in defense of price discrimination?
Which of the following is not a withdrawal (leakage) from the circular flow of income?
(a) Net Saving; (b) Net Taxes; (c) Expenditure on Imports; (d) Expenditure on exports.