If Sam can chop up more carrots per minute than Joe can, then
a. Joe has an absolute advantage in carrot chopping
b. Joe must have a comparative advantage in carrot chopping
c. Sam has an absolute advantage in carrot chopping
d. Sam must have a comparative advantage in carrot chopping
e. we can conclude nothing about absolute advantage
C
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A typical capital gain is experienced by
A) selling stock or a mutual fund. B) only rich people. C) only investment bankers. D) all shareholders in the United States.
Suppose that last year $1 U.S. exchanged for 1.2 euros. If this year $1 exchanges for 1.3 euros, then we can conclude that
A) the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. B) the dollar is weaker this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) to shift to the right. C) the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the left. D) the dollar is stronger this year than it was last year and this will cause the United States' short-run aggregate supply (SRAS) curve to shift to the right.