Specialization allows for
A) more consumption for all trading partners.
B) more consumption for the trading partner with the comparative advantage.
C) more consumption for the trading partner with the absolute advantage.
D) equal consumption among trading partners.
A
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Denise owns a plant that produces watch parts in Ohio. Denise noticed that when she hired the last worker, that worker's marginal product exceeded the marginal product of the previous worker
As a result, when the last worker was hired, Denise's average product of labor A) decreased. B) increased. C) did not change. D) perhaps changed, but there is not enough information to determine whether or not it did change. E) equals the marginal product of labor.
A patent grants
A) a guarantee of quality to consumers. B) the right to practice a profession. C) an exclusive right to an inventor of a product. D) control over a unique source or supply of raw materials.
If the government enacts contractionary fiscal policy, it is most likely at which of the following equilibria in the graph shown?
A. A
B. B
C. C
D. D
Which of the following is true?
a. Most stockholders own stock because they want to run the business. b. The shareholders of a large well-established firm can be reasonably sure that they will earn a real rate of return of about 7 percent in the future. c. Ownership of a corporate bond provides the bondholder with an ownership right to a fraction of the firm's future profits. d. Stock ownership makes it possible for investors to own a fractional share of a firm's future profits even if they do not participate in the operation of the firm.