A country has a comparative advantage in the production of a good if it can
A) trade off producing the good for another good.
B) produce more of the good than another country.
C) produce the good on and remain on its production possibilities frontier.
D) produce more of the good most efficiently.
E) produce the good at the lowest opportunity cost.
E
Economics
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Figure 9.1 shows three aggregate demand curves. A movement from curve AD1 to curve AD0 could be caused by a(n)
A) increase in government spending. B) decrease in taxes. C) increase in the price level. D) decrease in the money supply.
Economics
The above figure shows the market for pizza. Which figure shows the effect of a decrease in the price of a hamburger, which for consumers is a substitute for pizza?
A) Figure A B) Figure B C) Figure D D) Figures B and C
Economics