Comparative advantage refers to the ability to produce at a lower financial cost than a competitor.
Answer the following statement true (T) or false (F)
False
You might also like to view...
The higher the nominal interest rate, the
A) greater the opportunity cost of holding money. B) lower the quantity of money demanded. C) more the demand for money curve shifts leftward. D) Both answers A and B are correct.
Refer to Figure 11-3. Which of the following would cause an economy to move from a point like A in the figure above to a point like B?
A) a technological regression B) a decrease in capital per hour worked C) an increase in capital per hour worked D) an improvement in technology
The total amount of spending on nonresidential structures, equipment, software, residential structures, and business inventories in a given period of time is called:
A) net exports. B) government consumption and investment. C) gross private domestic investment. D) personal consumption.
When a firm is experiencing economies of scale, the minimum point of the firm's short-run average total cost curve shifts down as it expands its scale of production
Indicate whether the statement is true or false