If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only France would benefit from trade if the actual terms of trade between corn and wheat were 7:1.
Answer the following statement true (T) or false (F)
False
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Refer to Table 2-4. Assume Dina's Diner only produces sliders and hot wings. A combination of 50 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
Harry's HVAC refuses to sell diagnostic software and spare parts of its heating and cooling systems to third parties. Why would it want to do that?
a. To ensure that the customer knows that they are stuck with Harry's service technicians b. To ensure that only the highest paid personnel get to service the units c. To ensure that the customers do not buy second-class servicing and then infer faulty design if a unit breaks down due to inadequate service d. All of the above
Which political philosophy concludes that equality of opportunities is more important than equality of outcomes?
Through the 1970s, 1980s and 1990s, the states ran substantial budget ____________.
Fill in the blank(s) with the appropriate word(s).