Popeye produces 20 cans of spinach in 8 hours. Wimpy produces 15 hamburgers in 10 hours. If each hamburger trades for 1.5 cans of spinach, then
a. Popeye's production and productivity are greater than Wimpy's.
b. Popeye's production is greater than Wimpy's, but his productivity is less.
c. Wimpy's production and productivity are greater than Popeye's.
d. Wimpy's production is greater than Popeye's, but his productivity is less.
d
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Which of the following is a characteristic of a monopolistically competitive market?I. There are many sellers.II.Firms sell slightly differentiated products.III.Each firm faces a downward-sloping demand curve.
A. I only B. I and II only C. II and III only D. I, II, and III
Who said, "Property is the exploitation of the weak by the strong. Communism is the exploitation of the strong by the weak".
A. Adam Smith B. Seymour Melman C. Studs Terkel D. Pierre-Joseph Proudhon
The unemployment rate will decrease whenever there is a(n) _____
a. increase in the number of persons classified as unemployed b. decrease in the number of unemployed persons relative to the size of the labor force c. decrease in the size of the population and no change in the number of persons classified as employed d. reduction in the size of the labor force e. decrease in the number of unemployed persons and no change the population
When we say that money is fungible, we mean that a dollar spent out of your savings account:
A. is earmarked for a purpose and can't be spent on everyday expenses like groceries. B. is exactly the same as a dollar spent from your checking account. C. is not substitutable with any other dollar you have. D. is worth more than the dollar you have in your pocket.