DO NOT EXPLAIN JUST SELECT A, B, C, OR D

Which of the following is a correct statement?

Select one:

a.

some people have the comparative advantage in everything.

b.

you can have the comparative advantage in something even if you have the absolute advantage in nothing

c.

if you have the absolute advantage in production, you will also have the comparative advantage

d.

you cannot have the comparative advantage in production if you already have the absolute advantage

Which of the following is a correct statement?

Select one:

a.

some people have the comparative advantage in everything.

b.

you can have the comparative advantage in something even if you have the absolute advantage in nothing

c.

if you have the absolute advantage in production, you will also have the comparative advantage

d.

you cannot have the comparative advantage in production if you already have the absolute advantage

The work of scientists that advance our collective knowledge of the laws of nature and how the world works, contribute directly to:

Select one:

a.

physical capital.

b.

real capital.

c.

technological knowledge.

d.

human capital.

Economic growth theory shows wealthy nations in the world are the ones that:

Select one:

a.

are more self-reliant, and less involved in international trade

b.

have policies that protect their workers from becoming unemployed

c.

have low taxes and low national debt

d.

have institutions that create strong incentives to accumulate physical capital and human capital, and to innovate.