The primary benefit that results when a nation employs its resources in accordance with the principle of comparative advantage is
a. an expansion in investment resulting from a reallocation of resources away from consumption.
b. a larger output resulting from a more efficient use of resources.
c. greater equality of income resulting from an increase in the number of workers.
d. an increase in the profitability of business enterprises resulting from an
b. a larger output resulting from a more efficient use of resources.
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Which of the following countries received the largest amount of emigrant remittances in 2011?
A. India B. Mexico C. Philippines D. China
If you travel to Mexico you will often see currency exchange businesses along the way as you approach the border
Even though each of these businesses is essentially "selling" the same product (i.e. Mexican pesos) how is it that some of them are able to charge more for the peso than others?
In order from the most to the least competitive market structure is the perfectly competitive, monopolistically competitive, monopolist and then the oligopolistic market structure
a. True b. False Indicate whether the statement is true or false
Which of the following is a significant difference in the outcomes between the dictator game and the ultimatum game?
A. There is little difference, as fairness considerations lead to similar splits of the money in both games. B. The dictator game tends to result in a more even split of the money. C. The ultimatum game tends to result in a more even split of the money. D. Self-interest is revealed more strongly in the ultimatum game than in the dictator game.