According to the Ricardian model, the source of comparative advantage is:
a. differences in labor productivity in different countries.
b. differences in foreign trade policies followed by the government of various countries.
c. differences in resource endowments of an economy.
d. differences in the fields of research and development in a country.
e. differences in the taste and preferences of the consumers in different countries.
a
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The marginal cost of an activity ________ as you do more of it
A) increases B) decreases C) doesn't change D) changes only if the marginal benefit of the activity does not change E) changes only if the marginal benefit of the activity changes
All of the following are programs that redistribute income by making direct payments to people in the lower part of the income distribution EXCEPT
A) social security programs. B) welfare programs. C) Individual Retirement Accounts. D) unemployment compensation.