If an individual can produce a good or service with a lower opportunity cost than another individual, then he or she is said to have the comparative advantage
a. True
b. False
Indicate whether the statement is true or false
True
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Real GDP per person in both Alpha and Omega is equal to $2,000. Over the next 100 years, real GDP per person grows at a 1.5 percent annual rate in Alpha and at a 2.5 percent annual rate in Omega. After 100 years, real GDP per person in Alpha is ________ smaller than real GDP per person in Omega.
A. $2,000 B. $8,864 C. $5,410 D. $14,763
Based on the information in the table, how big is the labor force? Population 16 and older1,000,000Participation Rate80%Employed Workers720,000
A. 576,000 B. 1,000,000 C. 800,000 D. 720,000
The demand for Mexican tomatoes by an American food grocery chain creates a
A) demand for the U.S. dollar. B) demand for an interest rate differential. C) supply of Mexican pesos. D) supply of U.S. dollars.
Positive economics
A. always gives an optimistic spin to economic news. B. was not used by nineteenth century economists. C. is concerned with the economic policies that should be implemented. D. is objective.