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Question
The Apple iPod has been a trendy product. It was designed by Apple in the United States, manufactured in factories in Asia, and sold throughout the world. Many other firms, both American and foreign, began to try to develop alternatives to the iPod. The iPod is an example of American comparative advantage in:A. innovation.
B. mass production.
C. hand production.
D. consumerism.
Answer
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Related questions
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B. it has only one owner who has unlimited liability.
C. it is legally treated as a person and owned by stockholders who are liable for the actions of the corporate "person."
D. multiple owners are liable only to the extent of their own investment.
Q:
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If a firm's total revenue is $10,000 and its total costs are $9,000, then its profits are: A. -$1,000.
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Q:
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B. rely on the government to meet their needs.
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Q:
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Q:
Refer to the graph shown. Suppose Country X exports agricultural goods to Country Y in exchange for industrial goods. This pattern of trade increases consumption in both countries only if: A. X and Y share production possibility curve A.
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Q:
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Q:
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Q:
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Q:
If you move from a point inside the production possibility curve to a point on the production possibility curve, it follows that efficiency is: A. increased because the economy is now on the production possibility curve.
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Q:
To graphically demonstrate the principle of increasing marginal opportunity cost, the production possibility curve must be: A. flat.
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Q:
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Q:
This production possibility table illustrates: A. increasing marginal opportunity cost.
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Q:
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Q:
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B. perfectly vertical.
C. perfectly horizontal.
D. downward-sloping.