Specialization and exchange result from differences in productivity that lead to:
A. opportunity cost.
B. comparative advantage.
C. absolute advantage.
D. self-sufficiency.
Answer: B
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The manager of an ice-cream parlor decides to introduce a new ice-cream flavor in his Dallas, TX based restaurants to compare the sales of these restaurants to the ones with no new flavors. She decides to run a difference in difference approach. Which of the following is true?
a. The first difference would be the difference in the sales of the Dallas stores before and after the introduction b. The second difference would be the difference in the sales in other stores before and after the Dallas stores introduced the new flavor c. The second difference would be the difference between the post introduction sales in the Dallas stores and the control group d. Only A&B
Credit
What will be an ideal response?
Refer to the information provided in Table 31.1 below to answer the question(s) that follow.Table 31.1PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 60 50 2203 70 50 2354 80 50 245Refer to Table 31.1. From Period 1 to Period 2, the marginal return to labor is equal to
A. 0.5. B. 1.0. C. 2.0. D. 4.0.
For an economy to increase investment, it must:
A. increase saving. B. increase present consumption. C. buy more stocks and bonds. D. increase nominal GDP.