If Abigail can produce 4 tablets or 3 cellphones in a day, while Jacob can produce 1 tablet or 2 cellphones, then it is correct to state that
A) Abigail has a comparative advantage in producing cellphones.
B) Abigail has an absolute advantage in producing tablets but not cellphones.
C) Jacob has a comparative advantage in cellphones.
D) Jacob has an absolute advantage in cellphones.
C
Economics
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Private capital flows in the form of both direct and portfolio investment began to return to Latin America after 1989, effectively marking the end of the Lost Decade
Indicate whether the statement is true or false
Economics
If turnips are an example of an inferior good, then a decrease in the demand for turnips could be brought about by a(n):
A. Increase in consumer incomes B. Decrease in consumer incomes C. Increase in the price of turnips D. Decrease in the price of some other product
Economics