Hank requires 1 hour to cut the grass and 3 hours to clean the house. His sister Holly requires 1 hour to cut the grass and 4 hours to clean the house. Which of the following statements is true?
A) Hank has a comparative advantage in both cutting the grass and cleaning the house.
B) Hank and Holly both have a comparative advantage in cutting the grass.
C) Hank has a lower opportunity cost of cutting the grass.
D) Hank has an absolute advantage in both cutting the grass and cleaning the house.
E) Holly has a comparative advantage in cutting the grass.
E
Economics
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During the 1990s, deadweight losses per job saved through tariffs and quotas in the apparel industry
A) were greater than the wages earned in apparel jobs. B) were small enough to ignore. C) were less than the value of the jobs saved. D) increased net national welfare.
Economics