Recall the Application about productivity in the nation of Latvia in the 1990s to answer the following question(s). According to this Application, in the 1990s the European Community had ________ in the production of all products compared to Latvia.
A. an absolute advantage and a comparative advantage
B. an absolute advantage but not a comparative advantage
C. a comparative advantage but not an absolute advantage
D. neither an absolute advantage nor a comparative advantage
Answer: B
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Junk bonds are defined as those bonds the rating services consider to be
A) investment grade. B) high risk or speculative grade. C) financial grade. D) in default.
Which of the following goods has the property of rivalry?
A) national defense B) a highway C) air to breath D) an outdoor movie screening
What are the limitations in using break-even analysis?
What will be an ideal response?
An example of the command-and-control approach to environmental policy is:
a. placing a tax on freon to reduce its use and the corresponding CFC emissions (which contribute to the ozone hole). b. requiring car producers to install new air conditioners that do not use freon. c. allowing coal producers to buy and sell permits to allow CFC emissions. d. allowing individuals to sue freon producers if CFC emissions exceed a government-set standard.