Commodity egalitarianism suggests that some goods be available to everyone.
A. True
B. False
C. Uncertain
A. True
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Which types of investment accounts are investors likely to choose if they are trying to minimize risk? Why?
What will be an ideal response?
Because resources tend to be specialized, increased production of military goods tends to
a. decrease the opportunity cost of more military goods. b. increase the opportunity cost of more non-military goods. c. increase the opportunity cost of more military goods. d. change the position of the production possibilities curve. e. alter the slope of the production possibilities curve.
If there is an increase in both the supply and demand for a good, which of the following will definitely occur?
a. The price of the good will increase. b. The price of the good will decrease. c. The equilibrium quantity will increase. d. The equilibrium quantity will decrease.
If the cost efficiency of labor equals 2, then
A. The product price is 200 percent of the wage rate. B. Each extra dollar spent on wages returns 2 units of additional output. C. The wage rate is 100 percent more than the product price. D. Labor costs 100 percent more than the revenue it generates.