Colombia has an absolute advantage in
A. coffee and a comparative advantage in hot dogs.
B. neither coffee nor hot dogs, but a comparative advantage in hot dogs.
C. neither coffee nor hot dogs, but a comparative advantage in coffee.
D. neither coffee nor hot dogs, but a comparative advantage in both hot dogs and coffee.
B. neither coffee nor hot dogs, but a comparative advantage in hot dogs.
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Other things being equal, along an aggregate demand curve, a higher price level is associated with
A) a lower nominal GDP. B) a higher real GDP. C) higher income levels. D) a lower real GDP.
As cities grew and markets developed, life, fire and death insurance companies emerged to manage risks and help groups of individuals during disasters
Indicate whether the statement is true or false
Adam Smith's basic economic philosophy stated in The Wealth of Nations can be stated as:
a. laissez faire. b. allow to act. c. the least government is best. d. all of these.
Financial assets that represent the partial ownership of a firm and ability to share in its profits are called:
A. debt certificates. B. equities. C. intermediaries. D. credit risks.