Your comparative advantage in a specific area is determined by
A) minimum wage laws, health and safety standards and marginal tax rates.
B) the market value of the skill relative to your opportunity cost of supplying it.
C) the absolute value of the skill in the performance of a specific job.
D) the comparative positions of the wealthy, the middle income individuals and low income individuals.
B) the market value of the skill relative to your opportunity cost of supplying it.
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In the United States, the richest 20 percent of households receive about ________ percent of total income
A) 4 B) 15 C) 23 D) 50 E) 33
In Keynes's view, an excess quantity of money demanded causes people to:
a. sell bonds and the interest rate rises. b. buy bonds and the interest rate falls. c. buy bonds and the interest rate rises. d. increase speculative balances.
"Monetary instability has been the major cause of economic instability in this country. Expansion in the money supply has been the source of every major inflation. Every major recession has been either caused or perpetuated by monetary contraction." Who among the following would most likely adhere to this view?
a. Monetarists. b. Keynesians. c. Demand-side economists. d. Quantity theorists.
There are thousands of broadband internet providers in the country, while in a particular city the only way you can get it is through the phone, the cable company, or through DIRECTV. The best model to analyze this market is
A. monopoly. B. oligopoly. C. perfect competition. D. monopolistic competition.