Given the information in the figure above, Liz has a comparative advantage in ________ and an absolute advantage in ________
A) smoothies only; both goods
B) smoothies only; smoothies only
C) both goods; both goods
D) salads only; both goods
E) salads only; salads only
A
Economics
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The opportunity cost of moving from point a to point b in the above figure is ________
A) zero B) 3/2 pairs of socks per sweater C) 3 pairs of socks D) 2 sweaters
Economics
To construct GDP, exports:
a. and imports must be subtracted. b. and imports must be included. c. must be included and imports must be ignored. d. must be included and imports must be subtracted.
Economics