A source of economic growth is:
a. unemployment. b. inefficiency.
c. less resources. d. greater entrepreneurship.
d
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A typical professional National Football League team has three quarterbacks on its roster. What is one reason why they might not have a fourth quarterback?
A) The fourth quarterback's marginal product is approximately zero. B) The fourth quarterback's marginal product is approximately ten. C) The fourth quarterback's marginal product is less than the first quarterback's marginal product. D) There is a law against carrying four quarterbacks on a team.
The exchange rate: a. states the price of one currency in terms of another currency
b. is the rate at which one country's money is flowing to a second country. c. is closely related to the concept of comparative advantage. d. is closely related to the concept of absolute advantage.