The human skills theory is similar to the factor abundance theory of explaining the source of comparative advantage, except that the former concentrates only on different aspects of labor
a. True
b. False
Indicate whether the statement is true or false
True
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A defendant believes there is a 70 percent chance that the plaintiff will win $800,000 and a 30 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 90 percent chance that they will win $800,000 and a 10 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $300,000 and the defendant's litigation
cost is $200,000. What is the plaintiff's expected value from the litigation? A) $375,000 B) $420,000 C) $760,000 D) $520,000
In the above figure, what is the profit-maximizing price and output?
A) $9, 14 B) $13, 14 C) $11, 16 D) $10, 17
Which of the following helps explain why the aggregate demand curve slopes downward?
a. If the price level increases, the purchasing power of the fixed quantity of money decreases, causing people to buy less. b. If the price level increases, the purchasing power of the fixed quantity of money increases, causing people to buy more. c. If domestic prices increase, we substitute domestic goods for imported goods. d. If domestic prices decrease, we substitute imported goods for domestic goods.
The opportunity cost of working out for one hour is the value of the next-best activity that you could have done in that hour
a. True b. False Indicate whether the statement is true or false