Kelly and David are both capable of repairing cars and cooking meals. Which of the following scenarios is not possible?
a. Kelly has a comparative advantage in repairing cars and David has a comparative advantage in cooking meals.
b. Kelly has an absolute advantage in repairing cars and David has an absolute advantage in cooking meals.
c. Kelly has a comparative advantage in repairing cars and in cooking meals.
d. David has an absolute advantage in repairing cars and in cooking meals.
c
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The above figure shows the market for the three moving companies in a small nation
If the movers act as perfect competitors, what is the price per mile and the number of miles per year? If the movers collude and act as a single monopoly, what is the price per mile and the number of lines per year?
People:
A. often have good enough information to make acceptable choices. B. always have enough information to make acceptable choices. C. always have access to complete information. D. never have access to complete information.
Which of the following would likely lead to the greatest improvement in health status of the population in the United States?
a. Higher per capita incomes. b. More spending on public health, such as improved water supply and sanitation. c. More medical care spending overall. d. Improved lifestyles, including reductions in the use of tobacco, alcohol, and drugs. e. More rural hospitals.
Which of the following provides young people with a strong incentive to make regular payments into a retirement program and invest these funds in a diverse set of stocks?
A) The prices of stocks tend to fluctuate more than the prices of bonds. B) When held over lengthy periods like 30 or 40 years, historically the rate of return on stocks has been both higher and less variable than that of bonds. C) Over short periods of time, variation in the real rate of return of stocks is greater than bonds. D) Lower interest rates will lead to higher