« previous next »

Author Question: What is comparative advantage? What is absolute advantage? What will be an ideal ... (Read 58 times)

altibaby

  • Hero Member
  • *****
  • Posts: 562
on: Jun 29, 2018
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.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


djofnc

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 29, 2018
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
« previous next »
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Balancing selection and heterozygote advantage. Balancing selection and heterozygote advantage.
Comparative profiles of the lion and tiger. Comparative profiles of the lion and tiger.
Comparative illustration of a leopard (left) and cheetah (right) Comparative illustration of a leopard (left) and cheetah (right)
Like most world-changing inventions, the printing press of fifteenth-century Europe took advantage o Like most world-changing inventions, the printing press of fifteenth-century Europe took advantage o
How to solve equations involving absolute values How to solve equations involving absolute values
Comparative substrate cycles in glycolysis/gluconeogenesis Comparative substrate cycles in glycolysis/gluconeogenesis
Video: Ciliate conjugation Animation

For a complete list of videos, visit our video library