If the U.S. government decides to increase military spending, a possible opportunity cost could be lower spending on education.
Answer the following statement true (T) or false (F)
True
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Refer to Scenario 14.1. Lisette's dominant strategy will give her a net benefit of
A) $45. B) $75. C) $120. D) $150.
Since 1981, the
A) real wage rate increased steadily. B) nominal wage rate increased and the real wage rate did not change by very much. C) real wage rate increased more than the nominal wage rate. D) nominal wage rate increased at an uneven pace whereas the increase in the real wage rate was steady and constant. E) nominal wage rate and real wage rate both decreased.
Relative to free trade, when a tariff is imposed in a market for an imported good,
A) the consumer surplus in that market increases. B) the producer surplus in that market decreases. C) the total surplus in that market decreases. D) tariff revenue decreases. E) deadweight loss decreases.
Refer to Figure 2-1. ________ is (are) unattainable with current resources
A) Point A B) Point B C) Point C D) Points A and C