Ed and Wendy decide to make extra money working by painting names on coffee mugs and making sketches. Ed can paint 6 mugs or draw 2 sketches per hour. Wendy can paint 8 mugs or make 3 sketches per hour. Wendy has _____.
(A) An absolute advantage over Ed.
(B) Greater natural resources than Ed.
(C) More specialized production than Ed.
(D) A comparative advantage over Ed.
Ans: (A) An absolute advantage over Ed.
Economics
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The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market
a. True b. False Indicate whether the statement is true or false
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