If 1 U.S. dollar exchanges for 0.69 British pounds, how much would it cost in U.S. dollars and cents to purchase a British chess set priced at 20 pounds?
What will be an ideal response?
20 รท 0.69 = $28.99
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The bowed-out shape of the production possibilities curve shows that as more of one product is produced,
a. the opportunity cost per unit will increase. b. the opportunity cost per unit will decrease. c. the opportunity cost per unit stays the same. d. the production possibilities curve shifts inward.
Voters have an incentive to become informed about political issues because the individual's vote is likely to affect the outcome
a. True b. False
Data indicate that the large increase in government spending on income transfers that started with the War on Poverty during the latter half of the 1960s has resulted in
a. a substantial reduction in the poverty rate. b. a more equal distribution of income. c. fewer single-parent families because a married couple receives benefits twice as large. d. little change in the official poverty rate.
An increase in the interest rate will
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