Assume that Nation A's production possibilities is either 30 units of bricks or 50 units of wheat. Nation B's production possibilities is 20 units of bricks and 40 units of wheat. Which of the following is true?
A. Nation A is the least-cost producer of wheat
B. The high-cost producer of bricks is Nation A
C. The opportunity cost of wheat production is lower in Nation B
D. According to the principle of comparative advantage, Nation B should specialize in the production of bricks
C. The opportunity cost of wheat production is lower in Nation B
Economics
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A) Albert Einstein B) Paul Romer C) Friedrich Nietszche D) Sir Isaac Newton
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Define moral hazard and adverse selection in the context of health insurance markets. Make sure to discuss why they are problems for health insurance markets
What will be an ideal response?
Economics