Pierre can produce either a combination of 20 bow ties and 30 neckties or a combination of 35 bow ties and 15 neckties. If he now produces 35 bow ties and 15 neckties, what is the opportunity cost of producing an additional 15 neckties?
A) 2 bow ties B) 15 bow ties C) 20 bow ties D) 35 bow ties
B
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By international standards, the household saving rate of the United States:
A. has always been very high. B. was extremely high until the 1980s. C. has not ever really been high. D. was low through the 1970s and 1980s, but increased throughout the 1990s to become one of the highest.
Government corruption reduces economic growth around the globe, most commonly through widespread cash payments or gifts to receive a government service
Indicate whether the statement is true or false
If there is a ceiling price below the equilibrium level, a decrease in demand will worsen the shortage
a. True b. False Indicate whether the statement is true or false
Simple majority rule can generate inefficient outcomes because
A) it does not register the intensity of voters' preferences. B) it cannot adjust for special interest lobbying efforts. C) it does not adjust for the costs of rational ignorance. D) people are often misinformed on what it is they are voting on. E) none of the above