A nation is said to have _____ in the production of a good if it can produce it at a lower cost than another nation
a. a comparative advantage
b. an absolute advantage
c. economies of scale
d. production efficiency
b
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According to this Application, becoming unemployed caused ________ in perceived well-being for men if those in their peer group were also unemployed
A) no change B) a larger decrease C) an large increase D) a smaller decrease
The above figure shows the Lorenz curve for wealth for the nation of Rusha. If the government were to confiscate half of the wealth from the wealthiest twenty percent of the population and give it to the poorest twenty percent, then
A) wealth distribution would be more equal. B) wealth distribution would be unchanged. C) wealth distribution would be more unequal. D) the Lorenz curve would shift rightward.
The list of the major factors that create economies of scale includes all of the following except:
A) specialization and division of labor. B) quantity discounts. C) an increase in demand for the firm's output. D) the use of automation devices.
_________ occurs when people are so busy doing things they cannot plan or lead effectively
a. Task duration b. Task limitation c. Task saturation d. Task surrender