Mac can bake more cookies than Monica per hour. It must be true that
A) Monica has an absolute advantage in cookie baking.
B) Mac has an absolute advantage in baking cookies.
C) Mac cannot benefit by trade between the two of them.
D) Mac has a comparative advantage in baking cookies.
E) Monica has a comparative advantage in baking cookies.
Correct Answer:
Verified
Q19: Q20: Suppose a country operates on its production Q21: To increase its economic growth, a nation Q22: Economic growth depends upon which of the Q23: With no international trade, a country-------------------- consume Q25: If there is increasing opportunity cost, then Q26: As an economy produces more of one Q27: The production possibilities frontier is a graph Q28: As an economy grows, Q29: Relative to Al, Joe has-------------if Joe can
A)it can eliminate scarcity.
B)the
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