Refer to Table 2-9. What is Haley's opportunity cost of making a bracelet?
A) 3/4 of a bracelet B) 1 1/3 necklaces C) 2 necklaces D) 3 bracelets
B
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Refer to Figure 3-4. At a price of $20, how many units will be supplied?
A) 400 B) 500 C) 600 D) 800
A decrease in the price of a factor of production will lead to an increase in the supply of goods that use the factor in production.
a. true b. false
According to the story, if __________ in the software and related services sector increases by $15 billion, real GDP will increase by __________
a) investment; $30 billion b) consumption; $30 billion c) consumption; $2 billion d) investment; $2 billion
Who among the following is included in the labor force?
A. A retired commander of the armed forces. B. A man doing 10 years in prison for armed robbery. C. The president of Microsoft. D. A hardworking homemaker who does not want to be employed outside the home.