Comparative advantage means
A) the ability to produce a good or service at a lower opportunity cost than any other producer.
B) the ability to produce a good or service at a higher opportunity cost than any other producer.
C) compared to others you are better at producing a product.
D) the ability to produce more of a product with the same amount of resources than any other producer.
A
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When Electronic Arts, the company behind the games Zuma and Plants vs
Zombies, sold stock to the public for the first time in September 1989, funds were being raised in a ________ market, and when those newly issued shares are resold to other buyers, the sales take place in a ________ market. A) primary; primary B) secondary; secondary C) primary; secondary D) secondary; primary
Which of the following is true for the world as a whole?
a. During the past 200 years, the income per person of the world has increased sharply, but there has been little change in the years of life expectancy at birth. b. During the past 200 years, the years of life expectancy at birth has increased sharply, but there has been little change in the world's income per person. c. During the 800 years between 1000 and 1800, the increases in both world income per person and life expectancy at birth were small, but both of these indicators have increased sharply during the past 200 years. d. Both income per person and life expectancy rose steadily during 1000-1800, but neither of these indicators have increased much during the past 200 years as the population of the world has become larger and larger.
A progressive income tax system can be defined as one in which
A. the government uses taxes paid by the wealthy to fund programs for the poor. B. an individual pays more dollars in taxes when his income rises. C. the marginal tax rate rises over time. D. the average tax rate is higher for individuals with higher incomes.
Which of the following is NOT a reason why a firm may experience economies of scale?
A. productive specialization B. improved productive equipment C. increased layers of management D. dimensional factors