I messed up:
I typed in 1 question incorrectly: It should have been:
Economic theory assumes that firms try to maximize:
b. the incomes of the top executives
c. profits - I think this answer is correct? agree tor disagree?
d. all of the above
I got the answer mixed up with this question:
The theory behind job outsourcing:
a. economic relativity
b. absolute advantage
c. the theory of relativity
d. comparative advantage, I believe comparative advantage is the best answer to this?
Actually, I think I inadvertantly deleted one of your questions. Just to clarify, here are the questions that you first posted with the best answers highlighted:
Comparative advantage argues that overall production can be maximized by: a. the most productive producer specializing in the production of a particular good. b. the producer with the smaller opportunity cost specializing in the production of the good. c. building large production facilities to take advantage of economies of scale d. a highly decentralized production system David Ricardo developed the theory of: a. economic relativity b. absolute advantage c. the theory of relativity d. comparative advantage
Economic theory assumes that firms try to maximize: a. utility b. the incomes of the top executives c. profits d. all of the above
Hernando de Soto is: a. the co-founder of the Cuban republic b. a contemporary of Keynes c. the President of Bolivia d. the author of the Mystery of Capital Economic growth is not facilitated by:
a. freedom b. central planning c. education d. optimism
Let me know if you have any further questions.