The text argues that the United States has had a comparative advantage in goods and services that:

Ramen noodles were hotter than ever in 2010. Considered a bargain meal for cash-starved college students... in 2010, 4 billion individual packets were devoured in the United States, a 4 percent increase over 2006

If once college students graduated, they stopped eating ramen, would ramen be considered a normal or inferior good? A) inferior because students only eat ramen when income is low B) normal because students only eat ramen when income is low C) inferior because students only eat ramen when income is high D) normal because students only eat ramen when income is high

In the market for insurance

a. The high risk customers would remain unserved b. The low risk customers would remain unserved c. Both the types of customers would be served d. Neither type of customer would be served