Refer to the tables. The opportunity cost of the fifth unit of capital goods:
Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina:
A. is higher in North Cantina than in South Cantina.
B. is the same in North Cantina and South Cantina.
C. is lower in North Cantina than in South Cantina.
D. cannot be determined from the information provided.
A. is higher in North Cantina than in South Cantina.
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Walmart wants to raise $250 million to finance the renovation of their retail stores, and the company wishes to raise the funds through indirect finance. Which of the following methods could it use?
A) It could sell $250 million in bonds. B) It could issue $250 million in stock. C) It could borrow $250 million from a bank. D) It could choose either A or B.
If everyone agrees that a certain economic outcome is desirable, the simplest way for government to achieve that outcome is to use
A. a market-based approach. B. an era of deregulation. C. a command-and-control approach. D. a mixed economy.
Which of the following statement(s) is (are) true?
A) If the own-price elasticity of demand is -1, the demand is said to be unitary elastic. B) An income elasticity of less than 1 indicates that the commodity is a necessity. C) A positively sloped Engel curve implies that the commodity is a normal good. D) All of the above.
The price elasticity of demand for lettuce has been estimated to be 2.58. If an insect infestation destroys 10% of the nation's lettuce crop, how will that affect total revenue from lettuce, all other things unchanged?
A. Average costs will increase B. The average product will fall C. Average total costs will fall D. Total revenue will fall