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Despite this wide variety of organisms, it remains difficult to define what it means to say something is alive. Which of the following can be described as the smallest living unit?
(a) DNA
(b) cell
(c) organelle
(d) protein
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When the price of a good is higher than the equilibrium price,
a. a shortage will exist. b. buyers desire to purchase more than is produced. c. sellers desire to produce and sell more than buyers wish to purchase. d. quantity demanded exceeds quantity supplied.
Based on the data in the tables below, you can conclude that:
Two nations, ECON and OMICS, each produce goods A and B. The table gives points on each nation's production possibilities curve.
A. OMICS has a comparative advantage in the production of good A
B. ECON has a comparative advantage in the production of good A
C. ECON has a comparative advantage in the production of good B
D. Neither ECON nor OMICS has a comparative advantage