Refer to Figure 2-14. Which country has a comparative advantage in the production of snow cones?
A) Greenland B) They have equal productive abilities.
C) Iceland D) neither country
C
Economics
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A market demand curve measures
A) how much a consumer is willing to pay for an additional unit of the good. B) the marginal social benefit of an additional unit of the good. C) the marginal social cost of an additional unit of the good. D) Both answers A and B are correct.
Economics
From 1960 to 2012, government transfer payments as a percentage of U.S. output have:
A. Decreased as a result of improvements in private pension and health insurance plans B. Increased slightly at about the same rate as population C. Tripled as a percentage of output D. Remained approximately constant
Economics