Accounting profit is greater than or equal to economic profit

Suppose Jim and Tom can both produce baseball bats. If Jim's opportunity cost of producing baseball bats is lower than Tom's opportunity cost of producing baseball bats, then

a. Tom must have an absolute advantage in the production of baseball bats. b. Jim must have an absolute advantage in the production of baseball bats. c. Tom has a comparative advantage in the production of baseball bats. d. Jim has a comparative advantage in the production of baseball bats.

One of the goals of monetary policy is to make sure that the inflation rate and the overall rate of growth in the economy are the same.

Answer the following statement true (T) or false (F)