Suppose Joe can prepare 20 sandwiches or 10 pizzas in an hour and Beth can produce 36 sandwiches or 27 pizzas. The concept of comparative advantage concludes that
A) Beth should produce both goods because she can produce more of both goods in an hour than can Joe.
B) Beth should produce sandwiches and Joe should produce pizza.
C) Beth should produce pizza and Joe should produce sandwiches.
D) Beth should produce both goods and Joe should produce sandwiches.
C
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A government's budget deficit is equal to
A) the change in the value of bonds issued plus the change in the money supply. B) the change in the value of bonds issued minus the change in the money supply. C) the change in the money supply minus the change in the value of bonds issued. D) either the change in the value of bonds issued or the change in the money supply.
The deadweight loss caused by the monopoly market structure is equal to the loss of total surplus resulting from the good being sold by a monopolist rather than in a competitive market
a. True b. False Indicate whether the statement is true or false