The accompanying figure shows the production possibilities curve for the island of Genovia: The opportunity cost of producing a car in Genovia is:

A. 50 tons of agricultural products.
B. 5 tons of agricultural products.
C. 5,000 tons of agricultural products.
D. 500 tons of agricultural products.


Answer: A

Economics

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The Roomba 570 is a robotic vacuum cleaner made and sold by iRobot. It can vacuum 4 rooms on a single battery charge and it costs $2 worth of electricity to charge the Roomba

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Economics

The United States has developed a comparative advantage in digital computers, airliners, and many prescription drugs. The source of its comparative advantage in these products is

A) a strong central government. B) abundant supplies of natural resources. C) a favorable climate. D) technology.

Economics

When the price of ice cream falls, we would expect the quantity demanded of ice cream to rise, ceteris paribus

a. True b. False Indicate whether the statement is true or false

Economics

The term crowding-out effect refers to

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Economics