Specializing in the production of a good or service in which one has a comparative advantage enables a country to do which of the following?
A) increase the variety of products that it can produce with a decrease in resources
B) consume a combination of goods that lies outside its own production possibilities frontier
C) produce a combination of goods that lies outside its own production possibilities frontier
D) never have to engage in trade with other nations
B
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Say's law
A. was a basic pillar of Keynesian economics.
B. was a basic pillar of classical economics.
C. proves that we can never have full employment.
D. was formulated during the Great Depression.
Bob and Rob have started a food delivery business together called Grub Galore in their college town. They have not incorporated their business and they run it from? Bob's basement and garage. Grub Galore is an example of which form of business? ownership?
A. Sole proprietorship B. Limited liability company C. Master limited partnership D. Corporation E. Partnership
When a worker announces that he plans to quit, say next month, the "threat" of being fired has no bite. The worker may find it in his interest to shirk. What can the manager do to overcome this problem?
A. Pay the worker some rewards when he announces his plan to quit. B. Fire the worker as soon as he announces his plans to quit. C. Provide the worker some rewards for good work that extend beyond the termination of employment with your firm. D. Monitor the worker more often than usual and fire him when he is caught shirking.
Which of the following can cause supply-side inflation?
A. tax cuts B. increases in the money supply C. an increase in human capital D. none of these