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Practice Questions
Comparative Advantage and the Tragedy of Tasmania Practice Questions
Assume Bob can produce 10 bananas or 3 fish each day, while Anne can produce 30 bananas or 6 fish. Who has the comparative advantage in catching fish?
*
a. Bob
b. Anne
In the above scenario, what is the opportunity cost in bananas to Anne of producing one fish?
*
a. Three
b. Six
c. Five
The theory of comparative advantage holds that:
*
a. If one worker is better than another at a certain task, they should specialize in that task
b. To maximize production, workers should specialize in what they are best at relative to others and trade
c. Neither A or B.
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Everyday Economics
Course
(21 videos)
Ian Bremmer and Tyler Cowen on Globalization and Robots
Avengers: The Story of Globalization
Practice Questions
Creative Destruction: Technology and Trade
Practice Questions
Are There Winners and Losers of Globalization?
Practice Questions
Globalization: What About Inequality? (Coming Soon)
Globalization: What About the Environment? (Coming Soon)
Globalization: What About Sweatshops? (Coming Soon)
Tyler Cowen on American Culture and Innovation
The Complacent Class
Practice Questions
The New Era of Segregation
Practice Questions
American Stasis
The Missing Men
Practice Questions
The Great Reset
Don Boudreaux on Trade and Prosperity
The Hockey Stick of Human Prosperity
Practice Questions
Division of Labor: Burgers and Ships
Practice Questions
How the Division of Knowledge Saved My Son's Life
Practice Questions
Comparative Advantage and the Tragedy of Tasmania
Practice Questions
What Caused the Industrial Revolution?
Practice Questions
Are We Better Off If We Buy Local?
Practice Questions
Fair Trade: Does It Help Poor Workers?
Practice Questions
Tyler Cowen on...
The Rise and Fall of the Chinese Economy
Alex Tabarrok on...
The Hidden Cost of Pollution
Practice Questions
Various Topics
Economist's Christmas
