Travis can mow a lawn in two hours or he can trim a tree in one hour. Ricardo can mow a lawn in three hours or he can trim a tree in two hours. a. Travis has an absolute advantage over Ricardo in trimming trees. b. Travis has a comparative advantage over Ricardo in mowing lawns. c. Ricardo has a comparative advantage over Travis in trimming trees. d. All of the above are correct.

Money from an allowance or job is known as .

Which of the following businesses is most likely to disrupt an existing industry? a. closer connex developed an earphone that receives emails and text messages and converts them to voice messages. the first models had poor reception, but they rapidly improved over time. b. mega technologies reconfigured the components used in its touchscreen tablets to create a new type of wearable device for use in restaurants and other service industries. c. particle inc. developed a teleportation technology that can transport physical materials instantaneously across great distances. d. altrea added advanced camera technology to its premium line of smartphones so that they would take the highest-quality photos of all phones on the market.

Which of the following events could increase the demand for labor? a. an increase in the marginal productivity of workers b. a decrease in the amount of capital available for workers to use c. a decrease in the wage paid to workers d. a decrease in output price