Econ 318

Who has a comparative advantage in home production? correct answers The spouse whose opportunity cost (forgone wages) of producing a given commodity (e.g., home cooked dinner) is lowest. Traditional specialization magnifies comparative advantages through correct answers "learning by doing" S...

Define scarcity and explain why the concept is so central to neoclassical economics. correct answers - The concept of scarcity arise as individuals have unlimited wants but the available resources are limited. The concept of scarcity is so central to neoclassical economics, as scarcity directs indi...

The RAND Health insurance Experiment correct answers Randomly assigned levels of health insurance coverage to people In the Rand Health Insurance Experiment, people randomized to "free" health care were substantially more likely to be prescribed antibiotics for viral conditions. This is evidenc...

Half of marriages end in divorce, why do people still marry? correct answers - comparative advantages have not disappeared but they have diminished since women are doing better in the labor market. Although, comparative advantage has not gone away completely. It is still true that women on average e...

The organizational culture is also called corporate culture. correct answers True A system of shared beliefs and values that develops within an organizational and guides the behavior of its members is known as the corporate system. correct answers False Just as human beings have a personality,...