If you can make $20,000 a year teaching, $25,000 a year typing, $30,000 a year driving a cab, and $40,000 a year as a chef, you have a comparative advantage in
A) teaching.
B) driving a cab.
C) being a chef.
D) one of them but we need more information to know which.
C) being a chef.
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The ability to engage in product differentiation is one of the factors a manager or owner of a firm can control in order to create value for consumers
Indicate whether the statement is true or false
The __________ level of government accounts for the largest share of health care spending.
A. regional B. state C. municipal D. federal
Which of the following is a statement of positive economics?
a. Too much government spending is the biggest problem facing the U.S. economy. b. Creating jobs is the most serious problem facing the U.S. economy. c. Raising taxes provides additional revenue that should be used to finance health care. d. If taxes are over 50 percent of national income, job creation falls.
The Laffer curve shows the relationship between
A. marginal and average tax rates. B. tax revenue and marginal tax rates. C. tax revenue and average tax rates. D. unemployment and inflation.