If Country X has a higher labor productivity than the rest of the world in the production of a good, then Country X has a comparative advantage in the production of the good.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 5-6. What is the economically efficient output level?
A) Q1 + Q2 B) Q2 C) Q2 - Q1 D) Q1
If people follow the rule of rational choice they will choose options that they think will:
a. create more average benefits than average costs b. create more additional costs than additional benefits c. create equivalent additional benefits and additional costs d. create more additional benefits than additional costs
A current account deficit is matched by a financial account surplus
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 
Figure 7.6Refer to Figure 7.6. The shoe manufacturer currently produces 50 units of output. If this shoe manufacturer increases labor from 15 to 20, the marginal product of the 20th worker
A. is zero, as the total number of shoes produced remains at 50. B. is 8.5, as capital can be reduced by 8.5 units when the 20th worker is hired. C. cannot be determined because output remains constant. D. cannot be determined because both capital and labor have been increased.