If Kami can produce 40 tablets or 30 cellphones during a month's time, while Sally can produce 10 tablets or 20 cellphones, then it is correct to state that
A) Kami has a comparative advantage in producing tablets.
B) Kami has a comparative advantage in producing both tablets and cellphones.
C) Sally has a comparative advantage in producing both tablets and cellphones.
D) Sally has an absolute advantage in tablets.
A
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Which of the following statements is correct?
a. Gasoline taxes are an example of an EPA regulation. b. Gasoline taxes are higher in many European countries than in the United States. c. Gasoline taxes contribute to global warming. d. Gasoline taxes are an example of a command-and-control policy.
Suppose a new law requires all piercing studios to pass tougher licensing tests and to begin using more costly sterilization methods. Other things constant, this law would cause:
A. an increase in the supply of piercings and a lower price for piercings. B. an increase in the supply of piercings and a higher price for piercings. C. a decrease in the supply of piercings and a higher price for piercings. D. a decrease in the supply of piercings and a lower price for piercings.