Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Ralph's opportunity cost of selling a truck is selling:
A. 3 cars.
B. 4 cars.
C. 1/4 of a car.
D. 1/3 of a car.
Answer: C
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Harry works at the video rental store for 20 hours per week. He's asked his boss to allow him to work 40 hours per week, but has been told that business is too slow. Harry is considered
A) a discouraged worker. B) an involuntary part-time worker. C) a marginally attached worker. D) not in the labor force. E) a job seeker.
One should be wary of consultants peddling best practices or secrets to success because
a. They have different incentives than you do b. Such best practices are public knowledge and easily duplicated c. These best practices can at best only provide temporary profitability d. All of the above
The most efficient point on the production possibilities curve is the midpoint on the curve
a. True b. False Indicate whether the statement is true or false
Money is what people in a society regularly use when purchasing or selling goods and services.
Select whether the statement is true or false. A. True B. False