Refer to Figure 2-12. Which country has a comparative advantage in the production of honey?
A) They have equal productive abilities. B) Tahiti
C) Bora Bora D) neither country
C
You might also like to view...
An increase in the aggregate expenditures schedule ________.
A. decreases aggregate demand by the amount of the increase in aggregate expenditures B. increases aggregate demand by the amount of the initial increase in aggregate expenditures times the multiplier C. decreases aggregate demand by the amount of the initial increase in aggregate expenditures times the multiplier D. increases aggregate demand by the amount of the increase in aggregate expenditures only
Fiat money has
A) a great intrinsic value that is independent of its use as money. B) little to no intrinsic value and is authorized by the central bank or governmental body. C) value, because it can be redeemed for gold by the central bank. D) little to no intrinsic value but is backed by the quantity of gold held by the central bank.
The division of the burden of a tax between buyers and sellers in a market is called tax incidence
Indicate whether the statement is true or false
What is the marginal utility per dollar and how is it calculated?
What will be an ideal response?