As an economy modernizes and its standard of living rises, the proportion of transactions conducted with barter
A. rises.
B. falls.
C. remains about the same.
B. falls.
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Refer to the scenario above. What is the opportunity cost of printing one magazine?
A) 1 notebook B) 2 notebooks C) 15 notebooks D) 30 notebooks
Government ownership of industries is quite uncommon
a. True b. False
Resource owners will supply additional units of a resource as long as doing so
a. decreases their opportunity cost b. increases their income c. increases their utility d. decreases their income taxes e. improves their working conditions
Julio makes wine and beer. Last year he made 20 bottles of wine and 20 cases of beer. If the price of grapes goes down (making wine cheaper to make), Julio will be able to make the same amount of wine and more beer
a. True b. False Indicate whether the statement is true or false