Refer to Table 2-8. Which of the following statements is true?
A) Betty has an absolute advantage in making both products.
B) Betty has an absolute advantage in making statues and Wilma in making benches.
C) Betty has an absolute advantage in making benches and Wilma in making statues.
D) Wilma has an absolute advantage in making both products.
A
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Differentiate between the four market structures on the basis of the type of products sold
What will be an ideal response?
Why are bonds risky to a corporation?
What will be an ideal response?
Answer the following statement(s) true (T) or false (F)
1. Standard setting under the Safe Drinking Water Act Amendments of 1996 ignores benefit-cost analysis. 2. The EPA under the Obama administration devised a Drinking Water Strategy with goals that include addressing contaminants as groups instead of one at a time. 3. Under the law, priority contaminants are those that are expected to have an adverse effect on the ecology. 4. Under U.S. law, National Primary Drinking Water Regulations (NPDWRs) have been announced for hundreds of chemicals, microorganisms, and radionuclides. 5. Each National Primary Drinking Water Regulation (NPDWR) includes a Maximum Contaminant Level Goal (MCLG), a Maximum Contaminant Level (MCL), and Best Available Technology (BAT).
The invisible hand of the marketplace acts to allocate resources
a. efficiently but does not necessarily ensure that resources are allocated fairly.
b. both fairly and efficiently.
c. fairly but does not necessarily ensure that resources are allocated efficiently.
d. neither fairly nor efficiently.