In a Mexican factory, each worker can produce 1/8 of a vase or 1/16 of a statue per hour. If there are 400 workers at the factory, the opportunity cost of one statue is

a. 1/2 of a vase
b. 1/8 of a vase
c. 8 vases
d. 16 vases
e. 2 vases


E

Economics

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Periods of unusually low production in an economy result in ________ unemployment.

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Generally speaking, income inequality is

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A bank has a 5 percent reserve requirement, $5,000 in deposits, and has loaned out all it can given the reserve requirement

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Economics