Author Question: What is comparative advantage? What is absolute advantage? What will be an ideal ... (Read 47 times)

altibaby

  • Hero Member
  • *****
  • Posts: 562
What is comparative advantage? What is absolute advantage?
 
  What will be an ideal response?

Question 2

Some economists and policymakers who are in favor of government-provided health care believe that providing health care will generate
 
  A) more adverse selection. B) additional moral hazard.
  C) positive externalities. D) greater asymmetric information.


djofnc

  • Sr. Member
  • ****
  • Posts: 318
Answer to Question 1

Comparative advantage is the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors. Absolute advantage is the ability of an individual, firm, or country to produce more of a good or service than competitors, using the same amount of resources.

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

For a complete list of videos, visit our video library