Romania has a comparative advantage in the production of



A. basketballs.

B. Barbie dolls.

C. both basketballs and Barbie dolls.

D. neither basketballs nor Barbie dolls.


A. basketballs.

Economics

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Which of the following could be considered an example of a monopsony?

a. a professional sports league b. the only auto repair shop in a small town c. a single mining firm that was the only employer in the area d. all of the above

Economics

What is the opportunity cost of moving from point A to point B?

Hypothetical Production Schedule for Two-Product Economy

Economics

In Figure 35.1, what is the opportunity cost of motorcycles in Japan?

A. 1 DVD player per motorcycle. B. 2 DVD players per motorcycle. C. 3 DVD players per motorcycle. D. 1/2 of a DVD player per motorcycle.

Economics

Drawing demand and supply curves assumes that the primary variable influencing decisions to produce and purchase goods is:

A. incomes. B. expectations. C. price. D. preferences.

Economics