If a person has a comparative advantage in some activity, she must have an absolute advantage in that activity as well.
Answer the following statement true (T) or false (F)
False
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What are social costs? How do they differ from private costs?
What will be an ideal response?
Assume the central bank decides to lower the bank's reserve requirements. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the right. b. Start the analysis in the real credit market with demand for real credit shifting to the left. c. Start the analysis in the real credit market with demand for real credit shifting to the right. d. Start the analysis in the real credit market with supply of real credit shifting to the left. e. Start the analysis in the real credit market with supply of real credit shifting to the right.
If a tax is levied on the buyers of a product, then the demand curve will
a. not shift. b. shift down. c. shift up. d. become flatter.
A monthly budget can help you achieve financial security by
A) expanding the borrowing limits on your existing credit cards and increasing the number of credit cards you hold. B) helping you choose stocks that are most likely to increase in price. C) increasing your financial awareness and helping you allocate your funds more effectively. D) reducing the likelihood that you will face unexpected expenditures for maintenance and repairs.