Which of the following correctly ranks the amounts from smallest to largest?
A. output per person, total output, average labor productivity
B. total output, average labor productivity, output per person
C. total output, output per person, average labor productivity
D. output per person, average labor productivity, total output
Answer: D
Economics
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The production possibilities frontier is the boundary between those combination of goods and services that can be
A) produced and those that can be consumed. B) consumed domestically and those that can be consumed by foreigners. C) produced and those that cannot be produced. D) consumed and those that cannot be produced.
Economics
Explain comparative advantage
What will be an ideal response?
Economics