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PRINCIPLES OF MICROECONOMICS REAL STUDY EXAM 1 2024 VERSION WITH 80 QUESTIONS AND DETAILED CORRECT ANSWERS/GRADED A+
In the 1950s, the economist Bela Balassa compared 28 manufacturing industries in the United States and Britain. In everyone of the 28 industries, Balassa found that the United States had an absolute advantage. In these circumstances, would there have been any gain to the United States from importing any of these products from Britain? - ANSWER Even with an absolute advantage, the United States would have benefited from importing those products for which Britain had a comparative advantage.
According to the U.S. Bureau of Labor Statistics, the amount of time men devote to housework has been increasing, while the amount of time women devote to housework has been decreasing. An economic explanation for this trend could be that as women have... - ANSWER more employment opportunities, their opportunity cost of doing housework, relative to men's, has risen.
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Specifications
- School: Chamberlain College Of Nursing
- Course: NURSING
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- Section: Examinations
- Updated on: 04-28-2024
- Made on: 01-12-2024
- Type: .pdf
- Pages: 14
- Language: English
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