The ability to produce a good at a lower opportunity cost than others is known as
A) comparative advantage.
B) absolute advantage.
C) specialization.
D) marginal cost production.
A
Economics
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Answer the next question based on the following data. (These national income figures are in billions of dollars.)Personal consumption expenditures$4,500Consumption of fixed capital150Gross private domestic investment800Government purchases950Exports65Imports85GDP in this economy is ________.
A. $6,230 billion B. $6,380 billion C. $6,080 billion D. $6,400 billion
Economics
Mechanism designers start by building models and then look for problems that their models can solve.
Answer the following statement true (T) or false (F)
Economics