The United States has an absolute advantage in producing T-shirts, but not a comparative advantage, because
A. Labor costs in the production of T-shirts are lower in the United States than in other countries.
B. The United States uses fewer resources to produce T-shirts than another country can
C. Another country may have an absolute advantage in producing T-shirts.
D. Other countries, such as China, can produce T-shirts at a lower opportunity cost relative to the United States.
Answer: D
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a. Affective domain b. Cognitive domain c. Construct domain d. Clarification construct
Since 1970, federal expenditures by regulatory agencies have
A) remained constant. B) decreased slightly. C) increased dramatically. D) increased slightly.
Which one of the following is not true about poverty in the United States? a. The percentage of the population below the poverty line has decreased significantly since 1960 in the U.S., but not for every racial group
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Holding all other factors constant, consumers demand more of a good the
A) higher its price. B) lower its price. C) steeper the downward slope of the demand curve. D) steeper the upward slope of the demand curve.