The United States has developed a comparative advantage in film production due to the film industry being long-established in southern California, and lower costs result from the size of the industry in the area
This source of comparative advantage is referred to as
A) external economies. B) best practices of unskilled labor.
C) superior process technology. D) the abundance of natural resources.
A
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Refer to Figure 2-13. What is the opportunity cost of producing 1 ton of pineapples in Costa Rica?
A) 3/8 of a ton of coconuts B) 2/3 of a ton of coconuts C) 1 1/2 tons of coconuts D) 100 tons of coconuts
Using Figure 1.6, if an economy has the capacity to produce represented by PP1, then point E represents
A. A change in technology. B. An efficient use of resources. C. A combination of cars and SUVs that is not attainable. D. A constant trade-off between cars and SUVs.
The government transfer program makes the distribution of income more equal.
Answer the following statement true (T) or false (F)
What is social capital, and how is it connected to economic development?
What will be an ideal response?