If you and I agree to exchange four ginger snaps for one chocolate chip cookie, then it must be true that
a. we are both at least as well off as we were before
b. I am better off than I was before, but you are not
c. you are better off than you were before, but I am not
d. we are both better off than before
e. we are both worse off than before
Question 2
Comparative advantage is
a. the ability of an individual to specialize and produce a greater amount of some good than can another individual
b. the number of units of one good given up in order to acquire something
c. the ability of an individual to produce a good at a lower opportunity cost than some other individual can
d. an expression for the amount of labor a particular individual needs to produce a fixed amount of capital goods
e. a reference to an individual having the greatest opportunity cost of producing the good and produces it with the fewest resources
True-color view of Mars seen through NASA's Hubble Space Telescope in 1999
Gas exchange
Which one is more healthier? DARK, MILK or WHITE chocolate
Low-fat chocolate milk
The same pair of homologs, but with no exchange occurring between them