In an hour Jane can solder 50 connections or inspect 20 parts while Jim can solder 25 connections or inspect 20 parts in an hour
A) Jane has a comparative advantage over Jim in both soldering and inspecting.
B) Jane has a comparative advantage over Jim in soldering while Jim has a comparative advantage in inspecting.
C) Jim has a comparative advantage over Jane in soldering while Jane has a comparative advantage in inspecting.
D) Jim had a comparative advantage over Jane in both soldering and inspecting.
Answer: B
You might also like to view...
Mark and Anthony are participating in a trust game. Mark is given a locked box containing five $100 bills and a key. He can either unlock the box himself or he can give it to Anthony
Anthony can either unlock the box himself or return it to the moderator of the game. If Mark unlocks the box himself, he will get $200 and Anthony will get $100 while the rest will be taken back. If Anthony unlocks the box, they will receive $250 each. If Anthony returns the box to the moderator, he will receive $300, while Mark will not get any money. What will the equilibrium outcome of this game be?
The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone). If the price were zero, consumer surplus equals
A) $301.00. B) $924.50. C) $1,225.50. D) $1,250.00.
If a competitive firm's marginal cost curve is U-shaped then
A) its short run supply curve is U-shaped too B) its short run supply curve is the downward-sloping portion of the marginal cost curve C) its short run supply curve is the upward-sloping portion of the marginal cost curve D) its short run supply curve is the upward-sloping portion of the marginal cost curve that lies above the short run average variable cost curve E) its short run supply curve is the upward-sloping portion of the marginal cost curve that lies above the short run average total cost curve
In the short run, which of the following rates of growth in the money supply is likely to lead to the lowest level of unemployment in the economy?
a. 3 percent per year b. 5 percent per year c. 7 percent per year d. 9 percent per year