If two countries produce both wheat and sugar and one country has the comparative advantage in producing wheat than the other country must have the absolute advantage producing sugar
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Because people's wants are unlimited but resources are scarce,
a. only the rich get everything they want b. choices must be made c. there will be more services produced than goods d. people search for spiritual fulfillment rather than material fulfillment e. poor people never get anything they want
Economics
In macroeconomics, which of the following topics would most likely be studied?
A. Bob's budget B. Nike's costs of production C. The growth rate of the oil industry D. Unemployment in Mexico.
Economics