We infer the distribution of income from the distribution of abilities
Indicate whether the statement is true or false
F
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When David Palmisano won the Powerball, he could choose between getting annual installments or taking a lump sum. An economist suggested that David think about
a. marginal product b. the present value of an income stream c. marginal disutility d. the present value of a payment only one year hence e. the demand for labor
Jose and Maria work at a restaurant. Jose can make either 10 pancakes or 4 waffles; Maria can make either 8 pancakes or 2 waffles. According to this scenario
A) Maria has the absolute advantage in making waffles B) Maria has the absolute advantage in making pancakes. C) Maria has the comparative advantage in making pancakes. D) Jose has the comparative advantage in making pancakes.