If the United States could produce 4 tons of potatoes or 2 tons of wheat per worker per year, while Ireland could produce 2 tons of potatoes or 3 tons of wheat per worker per year, the country with the comparative advantage in producing potatoes is ____ and the country with the absolute advantage in producing potatoes is ____
a. the United States; the United States
b. the United States; Ireland
c. Ireland; the United States
d. Ireland; Ireland
a
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Which one of the following people is not considered by the BLS as belonging to the labor force?
a. a full-time student at Nassau Community College who devotes all her time to her classes b. Roger Cherrier, who works 30 hours a week at Burger King and goes to school at night c. David Reinblatt, who was fired last week and immediately started searching for a new job d. the President of the United States e. Matt George, who plays professional hockey for the minor league team the Hershey Bears and concedes that he would play for nothing because of the love of the sport
The maximin criterion can be defined as which of the following?
a. One seeks the maximum of the minimum payoffs to the various available strategies. b. One seeks the minimum of the maximum losses among the various available strategies. c. One seeks the maximum of the minimum losses to the various available strategies. d. One seeks the maximum of the maximum gains of the various available strategies.
Which group has the highest poverty rate?
A. Non-Hispanic whites B. Blacks C. Hispanics
What is the money multiplier?
a) A measure of the potential or maximum amount the money supply can increase when new deposits enter the system. b) A measure of the amount of excess reserves banks hold. c) A measure of the amount of total reserves banks hold. d) A measure of the maximum amount of savings that can happen when account holders deposit money in a bank account.