Ashley is an attorney and also an excellent typist. She can type 120 words per minute, but she charges attorney fees at $100 per hour. Benjamin would like some typing work but can only type 60 words per minute. According to the law of comparative advantage, Ashley should hire Benjamin to do her typing if and only if his wage rate is less than

If the demand curve for tacos is a downward sloping straight line, at which of the following prices is the demand the most elastic?

A) a price of $0.50 per taco B) a price of $1.00 per taco C) a price of $1.50 per taco D) There is not enough information given to determine at which price the demand is most elastic.

The difference between export spending on domestically produced goods and services by individuals in other countries and import spending on foreign produced goods and services by domestic residents is called:

A) net export expenditure. B) personal consumption expenditure. C) government expenditure. D) investment expenditure.