The above table shows the tons of steel and concrete that can be produced by the United States and France in an hour. From the data in the table
A) France has a comparative advantage in the production of concrete.
B) the United States has a comparative advantage in the production of concrete.
C) France has an absolute advantage in the production of concrete.
D) the United States has a comparative advantage in the production of both goods.
A
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The U.S. Justice Department prosecuted Microsoft under the terms of
A) the Sherman Act. B) the Kefauver amendment. C) the 1933 amendment to the Federal Trade Commission Act. D) none of the above.
"As I add more workers to the factory line, the additional output produced by each additional worker seems to decline. Eventually, the workers just get in each others' way.". This statement by a factory supervisor refers to the law of:
a. comparative advantage. b. demand. c. supply. d. increasing returns to scale. e. diminishing marginal returns.