Refer to Table 2-14. Does either Ireland or Scotland have an absolute advantage and if so, in what product?
A) Scotland only has an absolute advantage in producing guitars.
B) Ireland only has an absolute advantage in producing motorcycles.
C) Ireland only has an absolute advantage in producing guitars.
D) Scotland has an absolute advantage in producing both products.
D
Economics
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The economy of Cuba most closely approximates:
a. A market economy b. A command economy c. Pure capitalism d. Laissez-faire capitalism
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In the above figure, the equilibrium level of planned saving plus net taxes is
A. $1.0 trillion. B. $2.0 trillion. C. $3.0 trillion. D. $4.0 trillion.
Economics