Based on U.S. law that requiring organs to be donated, the supply curve for human organs currently is:
a. elastic

Which of the following would result in a higher absolute value of the price elasticity of demand for a product?

A) The time period under consideration is short. B) The good is a necessity. C) The expenditure on the good is small relative to one's budget. D) A wide variety of substitutes are available for the good.

Which of the following appropriately applies the law of comparative advantage?

a. Countries with small amounts of labor relative to capital should specialize in producing labor-intensive commodities. b. Since Mexican labor is cheaper than American labor, trade between the countries results in exploitation of American workers. c. Since workers in countries such as the United States utilize larger amounts of capital than workers in less developed nations, trade between capital-rich and capital-poor nations results in the exploitation of labor in the less developed countries. d. Countries that are low cost producers of agricultural products should trade those products for goods they can produce only at a high opportunity cost.