Consider the opportunity costs of producing goods X and Y that are listed for the four individuals above. Which person has a comparative advantage in producing good X?
A) Pramilla
B) Sam
C) George
D) Lucas
B
You might also like to view...
Changes in a currency's exchange rate adjust immediately to insure that
A) official settlements account parity always prevails. B) net exports always equal zero. C) interest rate parity always prevails. D) current account balance equals zero. E) purchasing power parity always prevails.
When the current U.S. income tax system was instituted in 1913, the rate on the highest tax bracket was _____
a. 28 percent b. 1 percent c. 15 percent d. 7 percent
Government actions can cause a
A) shift in the supply curve. B) shift in the demand curve. C) reaction from firms in other countries. D) All of the above.
In an economy without government or trade, it must be true that:
A. savings equals investment. B. consumption equals savings plus investment. C. consumption plus savings equal investment. D. consumption plus investment equal national savings.