The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.
Who has the highest opportunity cost of producing rice?
A. Kari
B. Janna
C. Janna and Drew
D. Drew
Answer: B
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A manufacturer of a sugar substitute has launched a campaign against the consumption of sugar. This is an example of ________
A) indoctrination B) backward induction C) anchoring D) sniping
Refer to Figure 7-5. With insurance and a third-party payer system, what price do consumers pay for medical services?
A) $40 B) $55 C) $65 D) > $65
Rent controls often have adverse effects, including
A) too much housing in a community. B) deterioration in the quality of existing rental units. C) too much construction of new rental units in the community. D) income transfers from the poor to landlords.
The nominal interest rate is equal to the real interest rate minus the anticipated inflation rate
a. True b. False Indicate whether the statement is true or false