If country A can produce more of practically everything than can country B, then which of the following statements is true?
A. Country B has no incentive to trade with country A.
B. Trade can benefit both countries.
C. Country B cannot have a comparative advantage in the production of any good that country A wants to buy.
D. Country A has no incentive to trade with country B.
Answer: B
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The above figure shows the market for laptops. Which of the following shifts the supply curve from S0 to S2?
A) an increase in the cost of hard drives B) an increase in the productivity of the workers manufacturing laptops C) a decrease in the price of laptops D) an increase in the price of laptops E) a decrease in the number of laptop manufactures and sellers
First movers
A) are usually firms with large market share. B) are the first to bring out a new product. C) usually copy successful products. D) are mainly found in the computer industry. E) have memorable trade names.
The patent system gives firms greater incentive to engage in research and other activities that advance technology
a. True b. False Indicate whether the statement is true or false
Grown children fawning over an elderly parent in order to try to secure a larger inheritance is an example of
A) rent seeking. B) logrolling. C) rational ignorance. D) public choice.