Nevada is the low opportunity cost producer of computer software, and California is low opportunity cost producer of wine. Which of the following is true?
a. Nevada has no comparative advantage over California in the production of wine or computer software.
b. Nevada has a comparative advantage in producing wine
c. Nevada has a comparative advantage in producing software.
d. Nevada has a comparative advantage in producing both wine and software.
C
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The wartime demand for manufacturing goods directly impacted the economy in which of the following ways?
(a) Increased demand for factory workers (b) Increased demand for imported goods (c) Decreased demand for agricultural goods (d) All of the above
A manager believes there is a 10 percent chance their firm will have to pay $1,000,000 and a 90 percent chance they will be found innocent and pay nothing except the legal fees of $200,000. If the manager chooses to not settle for $300,000 and to enter the litigation instead, which of the following is true?
A) The manager is a risk lover. B) The manager is risk averse. C) The manager is risk neutral. D) The manager is risk intolerant.
If the government increases defense spending by $1 billion and the MPC is 0.8, how much additional spending will occur in the third "round" of spending?
a. $640 million b. $800 million c. $1 billion d. $1.8 billion
Currently ____________ people are enrolled in PreCheck and more than __________ more have PreCheck clearance through Global Entry, the Customs and Border Protection trusted-traveler program.
Fill in the blank(s) with the appropriate word(s).