All of the following are sources of comparative advantage except
A) technology. B) climate and natural resources.
C) a strong foreign currency exchange rate. D) relative abundance of labor and capital.
C
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The above figure shows the market for finish carpenters in Bozeman. If there is a minimum wage set at $18, then there will be
A) unemployment of 200 workers. B) a surplus of 200 workers. C) unemployment of 400 workers. D) a surplus of 400 workers. E) no unemployment of workers and no surplus of workers.
Industrial policy involves governments using taxes, subsidies, and regulations to nurture the development of specific industries
a. True b. False Indicate whether the statement is true or false
A worker who has quit one job and is taking two weeks off before reporting to a new job is an example of
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. disguised unemployment.
Using Figure 1.5 above, we know the production of 2 units of soda and 2 units of pizza is 
A. impossible because we have the technology but do not have the resources. B. possible, but there would be unemployed resources. C. impossible because we have the resources but do not have the technology. D. possible, but only if all resources were fully employed.