Travis can mow a lawn in two hours or he can trim a tree in one hour. Ricardo can mow a lawn in three hours or he can trim a tree in two hours
a. Travis has an absolute advantage over Ricardo in trimming trees.
b. Travis has a comparative advantage over Ricardo in mowing lawns.
c. Ricardo has a comparative advantage over Travis in trimming trees.
d. All of the above are correct.
a
Economics
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In a short run competitive equilibrium
A) the market demand curve is horizontal. B) the market demand curve is downward sloping. C) the market demand curve is perfectly inelastic. D) All of the above are possible.
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Present consumption supported by large trade deficits may come at the expense of:
A. permanent debt to foreign interests. B. permanent foreign ownership of formerly U.S.-owned assets. C. large sacrifices of future consumption. D. all of these.
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