A person has a comparative advantage in an activity if that person can
A) produce more goods in a given amount of time than another person.
B) produce fewer goods in a given amount of time than another person.
C) perform the activity at a lower opportunity cost than anyone else.
D) perform that activity at a higher opportunity cost than anyone else.
C
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Economists believe that individuals respond in a predictable way to changes in costs and benefits. The term that best describes this belief is
a. opportunity cost b. demand c. supply d. scarcity e. rational behavior
United States net unilateral transfers have been
a. positive every year since 1950 b. negative every year since 1950 c. positive every year since 1950 except 1991, during the Persian Gulf War d. negative every year since 1950 except 1991, during the Persian Gulf War e. positive about half the time and negative about half the time since 1950
Externalities are created when parties not involved in an economic transaction are affected by it.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 9.1 below to answer the question(s) that follow. 
Figure 9.1Refer to Figure 9.1. If this farmer maximizes profits, his revenue per bushel will be
A. $7. B. $9. C. $11. D. $15.