By specializing in the production of particular goods, a nation is:
A) less likely to make efficient use of available resources.
B) more likely to engage in international trade.
C) able to become self-sufficient.
D) unable to develop a comparative advantage.
Ans: B) more likely to engage in international trade.
Economics
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Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 5th laborer?
A) 8 cabinets B) 7 cabinets C) 6 cabinets D) 4 cabinets
Economics
The marginal propensity to consume is a measure of the additional consumption that results from a one-dollar increase in disposable income
a. True b. False Indicate whether the statement is true or false
Economics