The market for insurance is one example of reducing risk by using diversification

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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If the rental rate increases, we know that output and labor input will fall in the long run.

Answer the following statement true (T) or false (F)

Economics

Suppose the United states production possibility frontier was flatter to the widget axis, whereas Germany's was flatter to the butter axis. We now learn that the German wage doubles, but U.S. wages do not change at all. We now know that

A) the United States has no comparative advantage. B) Germany has a comparative advantage in butter. C) the United States has a comparative advantage in butter. D) Not enough information is given. E) Germany gains a comparative advantage in widgets.

Economics

Summarize the four supply factors in economic growth

Please provide the best answer for the statement.

Economics

John has decided to watch the sunrise tomorrow morning. The sunrise is an example of

A) a good. B) an economic good. C) a service. D) an economic bad.

Economics