If Canada has a comparative advantage over Denmark in the production of wood, this implies that
a. it requires fewer resources in Canada than in Denmark to produce wood
b. the opportunity cost of producing wood in Canada is lower than in Denmark
c. Denmark does not benefit by trading with Canada
d. Canada should buy wood from Denmark
e. Canada does not benefit by trading with Denmark
B
Economics
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According to the above figure, at an income level of Y1,
A) the economy saves an amount equal to BD. B) the economy dissaves an amount equal to BD. C) the average propensity to save is greater than one. D) the marginal propensity to save is falling.
Economics
Public goods are I. nonexcludable. II. nonrival
A) I only B) II only C) both I and II D) neither I nor II
Economics