If nation A can produce a product at a lower opportunity cost per unit than nation B, nation A
A. has a specialization advantage.
B. has an absolute advantage.
C. has a comparative advantage.
D. has a production advantage.
C. has a comparative advantage.
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The table above shows the demand and total cost schedule for a monopolist hotel. What price should the monopolist charge if it is a single-price monopoly that maximizes its profit?
A) $171 B) $161 C) $151 D) $141
Analyze the short-run and long-run effects of an unanticipated decrease in the money supply in the misperceptions model. Tell what happens to output, the price level, and the expected price level in both the short run and long run
What will be an ideal response?
Decisions to buy or sell securities at the Fed are made by the:
A. Congress. B. Federal Open Market Committee. C. Federal Deposit Insurance Corporation. D. President's Council of Economic Advisors.
From 1990 to 2013, mortality under age 5 has ________ and the literacy rate has ________ in China.
A. decreased; decreased B. increased; increased C. increased; decreased D. decreased; increased