Italy has an absolute advantage in which product?
neither
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A person's productive contribution in a capitalist society is measured by determining the
A) market value of the individual's output. B) comparable output of other workers in similar jobs. C) total number of goods produced by the individual. D) index of occupational values.
What is the opportunity cost of 1 ton of oranges for the nations of Argentina and Brazil, respectively?
A. .25 ton of apples and .5 ton of apples B. 10 tons of apples and 4 tons of apples C. .5 ton of apples and .25 ton of apples D. 4 tons of apples and 2 tons of apples
Public employees (more frequently than private employees) tend to have their retirements in
A. defined contribution programs. B. Ponzi schemes. C. defined benefit pension programs. D. private savings plans.
When marginal revenue for a seller is more than marginal cost, the seller is
A) making a positive net revenue but not necessarily maximizing net revenue. B) maximizing net revenue and making a positive net revenue. C) maximizing net revenue even if net revenue is negative. D) not maximizing net revenue.