Consider the opportunity costs of producing goods X and Y that are listed for the four individuals above. Which person has a comparative advantage in producing good X?

In which situation is the real value of 1 unit of currency the highest?

a) A Big Mac that costs 4 pounds in London. b) A Big Mac that costs 450 yen in Tokyo. c) A Big Mac that costs $4.75 in New York City. d) A Big Mac that costs 7 Swiss Francs in Zurich.

The purpose of the Supplemental Security Income program is

A) to provide a minimum income for all households with children. B) to provide a guaranteed minimum income for all Americans. C) to provide a minimum income for the aged, blind, and the disabled. D) to supplement Social Security for the elderly with medical problems.