All of the following are sources of comparative advantage except
A) climate and natural resources.
B) relative abundance of labor and capital.
C) a strong foreign currency exchange rate.
D) technology.
Answer: C
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If there is no external cost, then marginal social cost
A) increases as output increases. B) decreases as output increases. C) is constant regardless of the level of output. D) is unrelated to output levels. E) first increases and then decreases as output increases.
In a perfectly competitive industry, in the long-run equilibrium
A) the typical firm is producing at the output where its long-run average total cost is not minimized. B) the typical firm is earning an accounting profit greater than its implicit costs. C) the typical firm is maximizing its revenue. D) the typical firm earns zero profit.
All of the following are differences in capital flows today from the past, EXCEPT
A) the increasing variety of financial instruments. B) the larger number of companies listed on world stock exchanges. C) the need to protect from sudden changes in currency values. D) the problem of volatility in financial capital flows. E) the reduction in transaction costs for foreign investment.
Lists are useful in organizing. About ________ percent of Americans consider themselves to be extremely organized
a. 5 b. 10 c. 50 d. 87