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1. Suppose Hoda is a brilliant attorney who can draft especially persuasive legal briefs. She also happens to possess some excellent administrative skills such as typing, filing, assembling binders and notes, and making reservations. Which best describes whether Hoda should hire an administrative assistant to help her? Group of answer choices Hoda should not hire an administrative assistant because she likely has a comparative advantage in performing administrative functions. Hoda should hire an administrative assistant because the assistant would likely have an absolute advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in performing administrative functions. Hoda should not hire an administrative assistant because she has an absolute advantage in performing administrative functions. 2. Goods that are produced today in order to make other valuable goods and services in the future are called goods. Group of answer choices inferior capital

1. Suppose Hoda is a brilliant attorney who can draft especially persuasive legal briefs. She also happens to possess some excellent administrative skills such as typing, filing, assembling binders and notes, and making reservations. Which best describes whether Hoda should hire an administrative assistant to help her? Group of answer choices Hoda should not hire an administrative assistant because she likely has a comparative advantage in performing administrative functions. Hoda should hire an administrative assistant because the assistant would likely have an absolute advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in performing administrative functions. Hoda should not hire an administrative assistant because she has an absolute advantage in performing administrative functions. 2. Goods that are produced today in order to make other valuable goods and services in the future are called goods. Group of answer choices inferior capital

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1. Suppose Hoda is a brilliant attorney who can draft especially persuasive legal briefs. She also happens to possess some excellent administrative skills such as typing, filing, assembling binders and notes, and making reservations. Which best describes whether Hoda should hire an administrative assistant to help her? Group of answer choices Hoda should not hire an administrative assistant because she likely has a comparative advantage in performing administrative functions. Hoda should hire an administrative assistant because the assistant would likely have an absolute advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in performing administrative functions. Hoda should not hire an administrative assistant because she has an absolute advantage in performing administrative functions. 2. Goods that are produced today in order to make other valuable goods and services in the future are called goods. Group of answer choices inferior capital personal normal consumer 3. As a government official, Nolan wants fewer people to smoke. He has decided to use taxes to discourage people from smoking. How would he describe his decision to an economist? Group of answer choices If I decrease taxes on cigarettes, there will be an increasein quantity demanded, which means fewer people are smoking. If l increase taxes on cigarettes, there will be an increase in demand, which means fewer people are smoking. IfI decrease taxes on cigarettes, there wil be a decrease in demand, which means fewer people are smoking. Ifl increase taxes on cigarettes, there will be a decrease in demand, which means fewer people are smoking. Taxes will have no effect on demand for cigaretles. CECECEC
Transcribed Image Text:1. Suppose Hoda is a brilliant attorney who can draft especially persuasive legal briefs. She also happens to possess some excellent administrative skills such as typing, filing, assembling binders and notes, and making reservations. Which best describes whether Hoda should hire an administrative assistant to help her? Group of answer choices Hoda should not hire an administrative assistant because she likely has a comparative advantage in performing administrative functions. Hoda should hire an administrative assistant because the assistant would likely have an absolute advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in writing legal briefs. Hoda should hire an administrative assistant because the assistant would likely have a comparative advantage in performing administrative functions. Hoda should not hire an administrative assistant because she has an absolute advantage in performing administrative functions. 2. Goods that are produced today in order to make other valuable goods and services in the future are called goods. Group of answer choices inferior capital personal normal consumer 3. As a government official, Nolan wants fewer people to smoke. He has decided to use taxes to discourage people from smoking. How would he describe his decision to an economist? Group of answer choices If I decrease taxes on cigarettes, there will be an increasein quantity demanded, which means fewer people are smoking. If l increase taxes on cigarettes, there will be an increase in demand, which means fewer people are smoking. IfI decrease taxes on cigarettes, there wil be a decrease in demand, which means fewer people are smoking. Ifl increase taxes on cigarettes, there will be a decrease in demand, which means fewer people are smoking. Taxes will have no effect on demand for cigaretles. CECECEC
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