A person tends to be ______________ likely to lose her temper with a boss than with a friend because the opportunity cost of losing her temper with her boss tends to be _____________ than the opportunity cost of losing her temper with her friend
A) less; higher
B) more; higher
C) less; lower
D) more; lower
A
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Expectations that disposable income will increase in the future will _____
a. shift the current consumption function upward b. shift the current consumption function downward c. result in an upward movement along the current consumption function d. make the current consumption function flatter e. make the current consumption function steeper
Look at the following production possibilities table for drill presses and corn. The table shows the maximum combination of drills and bushels of corn that can be produced when all resources are fully employed.
Drill Presses 10 20 30 40 50 Corn (bushels) 150 140 120 90 500 Based on the above information, A) there is a constant trade—off between corn and drill presses. B) the opportunity cost of producing 30 drill presses instead of 20 drills is 120 bushels of corn. C) the opportunity cost of producing 40 drill presses instead of 30 drills is 30 bushels of corn. D) the production possibilities curve for drill presses and corn will be a straight line.
Assume that the graphs show a competitive market for the product stated in the question.
Select the graph above that best shows the change in the market for leather coats when leather coats become more fashionable among young consumers.
A. graph (1) B. graph (2) C. graph (3) D. graph (4)
If the exchange rate between the United States and Mexico changes from $1 = 100 pesos to $1 = 5 pesos, ceteris paribus
A. U.S. imports from Mexico increase. B. U.S. exports to Mexico increase. C. the trade deficit in the United States increases. D. Mexican exports to the United States increase.