Recall the Application about productivity in the nation of Latvia in the 1990s to answer the following question(s). According to this Application, workers in the European Community were more productive than workers in Latvia in the 1990s, yet the European Community still purchased products from Latvia. This is because Latvia ________ in the production of the products it sold to the European Community.
A. had an absolute advantage
B. had a comparative advantage
C. used fewer resources
D. had a higher opportunity cost
Answer: B
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You turn to the bond market page of a newspaper and look under the column headed "Bonds" and see that it says, "Gemco 5 3/4 13" this indicates that
A. the coupon rate on this bond is 5.75 percent. B. this bond will mature 13 years from the date that it was first issued. C. the current yield on this bond is 5.75 percent. D. a and b E. all of the above
If total Fed assets __________, then reserves have to __________, everything else being equal
A) fall; rise B) rise; fall C) fall; fall D) None of the above.
If an industry consists of only two firms with equal market shares, then the Herfindahl index is
a. 50 b. 100 c. 2,500 d. 5,000 e. 10,000
Exhibit 11-13 A monopsonist's supply and marginal revenue product data Workers Wage Rate MRP 1 $ 8 $50 2 9 25 3 10 20 4 11 17 5 12 16 6 13 13 Use Exhibit 11-13. What wage rate will the monopsonist pay the workers?
A. $11. B. $13. C. $12. D. $16.