A country has an absolute advantage in the production of a good if that country
a. can produce the good using fewer resources than another country would require
b. has the lowest opportunity cost of producing the good and can produce it with the fewest resources
c. has the lowest opportunity cost of producing the good regardless of whether it is produced with the fewest resources
d. has the greatest opportunity cost of producing the good regardless of whether it is produced with the fewest resources
e. has the greatest opportunity cost of producing the good and produces it with the fewest resources
A
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If the interest rate is 10 percent, the present value of $400 to be received one year from today is about
A) $440. B) $390. C) $364. D) $377.
A move from S1 to S2 is a(n)
A. an increase in quantity supplied.
B. a decrease in quantity supplied.
C. an increase in supply.
D. a decrease in supply.