Refer to Table 9-11. Which country has an absolute advantage in producing clocks?
A) Denmark B) Belize C) both countries D) neither country
A
Economics
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Institutions:
A) are mostly outside of human control. B) place constraints on human behavior, and these constraints may not be absolute. C) cannot be changed over time. D) do not affect incentives.
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Which of the following bonds are considered to be default-risk free?
A) municipal bonds B) investment-grade bonds C) U.S. Treasury bonds D) junk bonds
Economics