If Bob can produce completed mathematics homework assignments at a lower opportunity cost than Jane can accomplish, then Bob has ________ in completing mathematics homework assignments
A) a relative advantage
B) an absolute advantage
C) a complete advantage
D) a comparative disadvantage
Answer: D
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Typically, the more time suppliers have to adjust to changing market conditions,
A) the more elastic the supply curve. B) the more elastic the demand curve. C) the less elastic the supply curve. D) the less elastic the demand curve.
A bank will consider a car loan to a customer ________ and a customer's checking account to be ________
A) a liability; a liability B) an asset; net worth C) a liability; an asset D) an asset; a liability E) an asset; an asset
If the demand for a good rises by more than the supply of the good falls, then the good's equilibrium price will __________ and its equilibrium quantity will __________
A) rise; fall B) rise; rise C) fall; fall D) fall; rise
The largest portion of Social Security expenditures is for
A. Medical benefits. B. Retirement benefits. C. Disability benefits. D. Survivor benefits.