A rich nation will trade with a poor nation because the
A) poor nation has the absolute advantage in producing all products.
B) poor nation has the comparative advantage in producing a product.
C) rich nation has the comparative advantage in producing all products.
D) rich nation has the absolute advantage in producing all products.
B
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A parking lot in a busy downtown district is experimenting with its pricing strategy to figure out where it should price its spaces. Which of the following strategies should it implement?
a. Decrease parking rates if the lot fills up much earlier than 9am b. Increase parking rates if the lot doesn't fill up until much after 9am c. If the lot fills up right around 9am the price is right d. All of the above
Between 1939 and 1944 the United States' national output
A. remained the same. B. nearly doubled. C. nearly tripled. D. nearly quadrupled.
Carmelita can perform either a combination of 35 manicures and 70 pedicures or a combination of 50 manicures and 45 pedicures. If she now performs 35 manicures and 70 pedicures, what is the opportunity cost of performing an additional 15 manicures?
A) 5 pedicures B) 20 pedicures C) 25 pedicures D) 45 pedicures
The United States in 2010 had about:
A. 1.8 percent of the world's population and generated about 10 percent of the world's output B. 2.4 percent of the world's population and generated about 20 percent of the world's output C. 4.5 percent of the world's population and generated about 23 percent of the world's output D. 10 percent of the world's population and generated about 30 percent of the world's output