In terms of exposing others to risk, explain if there is a difference between you choosing to text while driving
and a company selling tablet computers where the batteries have been known to explode when the tablet is left on for a long period of time.
In each case, the party exposing others to risk is doing so for their own gain - you for convenience and the tablet manufacturer for profit. If benefits exceed costs in both cases, there is no fundamental difference. If costs exceed benefits in one case and not the other, there is a difference.
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The ability of one person or nation to produce a good at a lower absolute cost than another is called a(n)
A) comparative advantage. B) specialization advantage. C) market advantage. D) absolute advantage.
According to the classical model, changes in aggregate demand are driven by
a. changes in taxes. b. changes in borrowing and lending. c. changes in fiscal policy. d. demand curve to the left and increases the price level.