A country may gain a temporary comparative advantage if it:
A. remains a political ally to all.
B. remains self-sufficient until it stockpiles enough inventory to supply the world.
C. is the first to discover and implement a new technology or production process.
D. All of these are true.
Answer: C
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Automobile insurance companies insure both safe and unsafe drivers. Ideally they would like to be able to charge different premiums to each to reflect the cost differences in insuring both types of drivers
What type of economic problem is this and how might insurance companies deal with it?
If orders exist in large volume, then the market has
A) depth. B) breadth. C) resiliency. D) None of the above.
Air pollution from burning fossil fuels causes damages to crops and public health. This is an example of
a. a market failure caused by an externality. b. a market failure caused by market power. c. a market failure caused by equality. d. There is no market failure in this case.
Payments for capital include investment and profit.
Answer the following statement true (T) or false (F)