Amy can produce either 5,000 pounds of cheese or 20 cars per year. Mike can produce either 5,000 pounds of cheese or 10 cars per year. Amy has a comparative advantage in producing ________, and Mike has a comparative advantage in producing ________.
A. cheese; cheese
B. cheese; cars
C. cars; cars
D. cars; cheese
Answer: D
Economics
You might also like to view...
What does GDP measure, and what is the formula for calculating GDP using the expenditures approach?
What will be an ideal response?
Economics
If total Fed assets __________, then reserves have to __________, everything else being equal
A) fall; rise B) rise; fall C) fall; fall D) None of the above.
Economics
Illustrate the effect of an open market sale of $20 million worth of Treasury bills on the Fed's balance sheet
What will be an ideal response?
Economics
Social security benefits have exceeded/will exceed payroll taxes starting in
A. 2005. B. 2010. C. 2020. D. 2030.
Economics