« previous next »

Author Question: The difference between absolute and comparative advantage is that: a. absolute advantage refers to ... (Read 77 times)

MGLQZ

  • Hero Member
  • *****
  • Posts: 579
on: Jun 30, 2018
The difference between absolute and comparative advantage is that:
 a. absolute advantage refers to input cost, while comparative advantage refers to opportunity cost.
  b. absolute advantage refers to opportunity cost, while comparative advantage refers to input cost.
  c. absolute advantage refers to individuals, and comparative advantage refers to countries.
  d. absolute advantage refers to countries, and comparative advantage refers to individuals.
  e. absolute advantage is applicable to intranational trade, while comparative advantage applies to international trade.

Question 2

If the government overcorrected in a situation of external costs
 a. More than the efficient amount of the good would end up being produced.
  b. Less than the efficient amount of the good would end up being produced.
  c. It would result in a welfare cost in that market.
 d. Both b and c are would result.


BAOCHAU2803

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Balancing selection and heterozygote advantage. Balancing selection and heterozygote advantage.
The difference between AZT-sensitive versus AZT-resistant reverse transcriptases The difference between AZT-sensitive versus AZT-resistant reverse transcriptases
How to use the closed interval method to find absolute maximum and minimum values How to use the closed interval method to find absolute maximum and minimum values
Difference Between a Sidereal Month and a Synodic Month Difference Between a Sidereal Month and a Synodic Month
What's the Difference Between England, Great Britain, and United Kingdom? What's the Difference Between England, Great Britain, and United Kingdom?
Video: Evolutionary tree of life Animation

For a complete list of videos, visit our video library