External link to Question : Table 2-12 One Canoe One Sailboat : 1387326

Question : Table 2-12 One Canoe One Sailboat : 1387326

  Table 2-12     One Canoe One Sailboat Guatemala     10 hours      60 hours Honduras     15 hours      75 hours   Table 2-12 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.       47) Refer to Table 2-12.  Guatemala has a comparative advantage in the production of A) canoes. B) sailboats. […]

External link to Question : 147.Alpha’s Bunny Barn has experienced a $60,000 loss due to : 1312003

Question : 147.Alpha’s Bunny Barn has experienced a $60,000 loss due to : 1312003

    147.Alpha’s Bunny Barn has experienced a $60,000 loss due to tornado damage to its inventory. Tornados have never before occurred in this area. Assuming that the company’s tax rate is 30%, what amount will be reported for this loss on the income statement? a.$60,000 b.$42,000 c.$18,000 d.$54,000     148.Wing Company reported income before taxes of $900,000 and an extraordinary loss of $250,000. […]

External link to Question : 31.In which of the following pairs of substances both members : 1309698

Question : 31.In which of the following pairs of substances both members : 1309698

    31.In which of the following pairs of substances are both members of the pair zymogens? a.pepsin and pepsinogen b.proelastase and elastase c.prothrombin and pepsinogen d.more than one correct response e.no correct response       32.Which of the following is not a water-soluble vitamin? a.vitamin C b.vitamin A c.vitamin D d.more than one correct response e.no correct response       33.Which of […]

External link to Question : 1) Which of the following roles of the government most : 1384305

Question : 1) Which of the following roles of the government most : 1384305

  1) Which of the following roles of the government is most fundamental to a society’s ability to function safely and carry on normal economic and social life? A) provider of health care B) provider of education C) provider of a justice system D) holder of a monopoly of violence E) regulator of free markets 2) The concept of “institution building” is becoming more prominent. […]

External link to Question : 61. Ronald 92 years old and in poor health. Clever investing : 1313486

Question : 61. Ronald 92 years old and in poor health. Clever investing : 1313486

  61. Ronald is 92 years old and in poor health. Clever investing earlier in his life has left him with a sizeable income. He is able to support his son Ed. Ed is 67 years old and a bit “confused,” so he lives in a nursing home. Ed’s income is less than $2,000. How many exemptions should Ronald claim on his tax return? a.1 b.2 […]

External link to Question : 53) Which resource has the least elastic supply? A) labor B) capital C) : 1241619

Question : 53) Which resource has the least elastic supply? A) labor B) capital C) : 1241619

  53) Which resource has the least elastic supply? A) labor B) capital C) land D) money E) taxes   54) A tax imposed on a resource’s income is paid by both the resource’s owners and the resource’s employers, except for a tax A) on labor income. B) on the income of capital. C) on land rent. D) that is imposed on employers. E) that […]

External link to Question : 11) The natural unemployment rate higher if A) unemployment benefits become : 1238527

Question : 11) The natural unemployment rate higher if A) unemployment benefits become : 1238527

  11) The natural unemployment rate is higher if A) unemployment benefits become more generous. B) there is a decrease in the working-age population. C) there are fewer two-income households. D) many of the new jobs created require skills possessed by the available labor. E) efficiency wages are lower. 12) The lower the amount of unemployment benefits citizens receive, the A) higher the opportunity cost […]

External link to Question : 21) The new growth theory asserts that profits are A) permanent, : 1228340

Question : 21) The new growth theory asserts that profits are A) permanent, : 1228340

    21) The new growth theory asserts that profits are A) permanent, because they are derived from discoveries. B) temporary, because the discoveries that lead to profits are eventually used by all. C) an illusion, since costs are never fully covered. D) permanent, because physical activities can be replicated. E) not an essential component determining whether the economy grows or not.   22) The […]

External link to Question : 21.IfShawncanproducedonutsataloweropportunitycostthanSue,then a.Shawnhasacomparativeadvantageintheproductionofdonuts. b.Suehasacomparativeadvantageintheproductionofdonuts. c : 1262249

Question : 21.IfShawncanproducedonutsataloweropportunitycostthanSue,then a.Shawnhasacomparativeadvantageintheproductionofdonuts. b.Suehasacomparativeadvantageintheproductionofdonuts. c : 1262249

  21.IfShawncanproducedonutsataloweropportunitycostthanSue,then a.Shawnhasacomparativeadvantageintheproductionofdonuts. b.Suehasacomparativeadvantageintheproductionofdonuts. c.Shawnshouldnotproducedonuts. d.ShawniscapableofproducingmoredonutsthanSueinagivenamountoftime. 22.IfIowa’sopportunitycostofcornislowerthanOklahoma’sopportunitycostofcorn,then a.Iowahasacomparativeadvantageintheproductionofcorn. b.Iowahasanabsoluteadvantageintheproductionofcorn. c.IowashouldimportcornfromOklahoma. d.Oklahomashouldproducejustenoughcorntosatisfyitsownresidents’demands. 23.CanadaandtheU.S.bothproducewheatandcomputersoftware.Canadaissaidtohavethecomparativeadvantageinproducingwheatif a.CanadarequiresfewerresourcesthantheU.S.toproduceabushelofwheat. b.theopportunitycostofproducingabushelofwheatislowerforCanadathanitisfortheU.S. c.theopportunitycostofproducingabushelofwheatislowerfortheU.S.thanitisforCanada. d.theU.S.hasanabsoluteadvantageoverCanadainproducingcomputersoftware. 24.BothDaveandCarolineproducesweatersandsocks.IfDave’sopportunitycostof1sweateris3socksandCaroline’sopportunitycostof1sweateris5socks,then a.Davehasacomparativeadvantageintheproductionofsweaters. b.Carolinehasacomparativeadvantageintheproductionofsweaters. c.Davehasacomparativeadvantageintheproductionofsocks. d.Davehasacomparativeadvantageintheproductionofbothsweatersandsocks. 25.Comparativeadvantageisrelatedmostcloselytowhichofthefollowing? a.outputperhour b.opportunitycost c.efficiency d.bargainingstrengthininternationaltrade 26.Whendescribingtheopportunitycostoftwoproducers,economistsusetheterm a.naturaladvantage. b.tradingadvantage. c.comparativeadvantage. d.absoluteadvantage. 27.Fortwoindividualswhoengageinthesametwoproductiveactivities,itisimpossibleforoneofthetwoindividualsto a.haveacomparativeadvantageinbothactivities. b.haveanabsoluteadvantageinbothactivities. c.bemoreproductiveperunitoftimeinbothactivities. d.gainfromtradewitheachother. 28.Twoindividualsengageinthesametwoproductiveactivities.Inwhichofthefollowingcircumstanceswouldneitherindividualhaveacomparativeadvantageineitheractivity? a.Oneindividual’sproductionpossibilitiesfrontierissteeperthantheotherindividual’sproductionpossibilitiesfrontier. b.Oneindividualisfasteratbothactivitiesthantheotherindividual. c.Oneindividual’sopportunitycostsarethesameastheotherindividual’sopportunitycosts. d.Noneoftheaboveiscorrect;oneofthetwoindividualsalwayswillhaveacomparativeadvantageinatleastoneofthetwoactivities. 29.Whichofthefollowingstatementsaboutcomparativeadvantageisnottrue? a.Comparativeadvantageisdeterminedbywhichpersonorgroupofpersonscanproduceagivenquantityofagoodusingthefewestresources. b.Theprincipleofcomparativeadvantageappliestocountriesaswellastoindividuals. c.Economistsusetheprincipleofcomparativeadvantagetoemphasizethepotentialbenefitsoffreetrade. d.Acountrymayhaveacomparativeadvantageinproducingagood,eventhoughitlacksanabsoluteadvantageinproducingthatgood. 30.Theprincipleofcomparativeadvantagedoesnotprovideanswerstocertainquestions.Oneofthosequestionsis a.Dospecializationandtradebenefitmorethanonepartytoatrade? b.Isitabsoluteadvantageorcomparativeadvantagethatreallymatters? c.Howarethegainsfromtradesharedamongthepartiestoatrade? d.Isitpossibleforspecializationandtradetoincreasetotaloutputoftradedgoods?    

External link to Question : 41) Which of the following would be included in Germany’s : 1228210

Question : 41) Which of the following would be included in Germany’s : 1228210

    41) Which of the following would be included in Germany’s GNP? A) the production of BMWs (made by a German-based company) in South Carolina B) the production of Michelin tires made in Germany by a French company and then sold directly to French consumers C) the production of BMWs in Germany D) the production of Michelin tires made in France by a French […]

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