Examples of comparative advantage show how trade between two countries can make each better off. Compared to their pre-trade positions, trade makes both countries better off because in each country
A) total employment is greater.
B) total consumption of goods is greater.
C) wages are higher.
D) total welfare is greater.
Answer: B
Economics
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The lower Sunday and Saturday prices also result from the ability __________________ has given airlines to throw discounts in front of consumers at any time.
Fill in the blank(s) with the appropriate word(s).
Economics
Ted can study for his economics exam or go to a concert. He decides to study for his economics exam instead of going to the concert. The concert he will miss is Ted's ________ of studying for the exam
A) opportunity cost B) explicit cost C) implicit cost D) discretionary cost
Economics