This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following statements is true about the U.S. economy? A) Each year, many new jobs are ... (Read 96 times)

Tazate

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
Which of the following statements is true about the U.S. economy?
 
  A) Each year, many new jobs are created, but few existing jobs are destroyed, and the unemployed find jobs quickly.
  B) Each year few jobs are created, and therefore it takes the unemployed a long time to find a new job.
  C) Each year, few new jobs are created, but few existing jobs are destroyed, keeping unemployment low.
  D) Each year, many new jobs are created and many existing jobs are destroyed.

Question 2

Refer to Table 7-5.
 
  a. Which person has an absolute advantage in the production of pens? Pencils?
  b. Which person has a comparative advantage in the production of pens?
  c. Which person has a comparative advantage in the production of pencils?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

xiazhe

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

a. Farah has an absolute advantage in the production of pens and Tran has an absolute advantage in the production of pencils.
b. Farah has a comparative advantage in the production of pens.
c. Tran has a comparative advantage in the production of pencils.


Tazate

  • Member
  • Posts: 532
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

bdobbins

  • Member
  • Posts: 326
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
Observed Mother–Child Arguments at Five Time Points Over an Eight-Year Period Observed Mother–Child Arguments at Five Time Points Over an Eight-Year Period
The answer to “What is the proper role of children in an economy?” varies by social class, ... The answer to “What is the proper role of children in an economy?” varies by social class, ...
Chinese Dragon new year 2024 Chinese Dragon new year 2024
Video: Physiology of Asthma

For a complete list of videos, visit our video library