If the United States could produce 1/2 ton of potatoes or 1 ton of wheat per worker per year, while Ireland could produce 3 tons of potatoes or 2 tons of wheat per worker per year, the country with the comparative advantage in producing wheat is ____ and the country with the absolute advantage in producing potatoes is ____

In the 1980s, expansionary fiscal policy is believed to have crowded out

A) domestic investment as interest rates rose. B) exports and imports as interest rates rose. C) exports but not domestic investment as interest rates rose. D) domestic investment as interest rates fell.

In arriving at the quantity of output and price of its product, a company

A. chooses either output or price, and consumer demand determines the other. B. has no control over either quantity or price. C. makes two decisions by setting both optimal output and optimal price. D. generally leaves both quantity and price decisions to consumers.