Bob, a Greek citizen, opens a restaurant in Chicago. His expenditures
a. increase U.S. net capital outflow and have no affect on Greek net capital outflow.
b. increase U.S. net capital outflow and increase Greek net capital outflow.
c. increase U.S. net capital outflow, but decrease Greek net capital outflow.
d. decrease U.S. net capital outflow, but increase Greek net capital outflow.
d
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Which of the following best describes comparative advantage?
A) using the fewest number of resources to produce a given amount of output B) being able to produce more output than any other country C) having the largest number of resources compared to other countries D) forgoing the fewest units of one product to produce a unit of another product E) It is the same as absolute advantage.
Refer to the table above. What is the firm's marginal cost when it produces 155 units of the good?
A) $0.66 B) $1 C) $1.33 D) $1.50