The opportunity cost of producing one keg of beer in Italy is
A. 3/2 pizzas.
B. 12 pizzas.
C. 4 pizzas.
D. 1/12 pizzas.
A. 3/2 pizzas.
You might also like to view...
The store of value function is defined as the
A) double coincidence of wants that is used in the debate over barter versus money. B) pricing of goods and services in one measure. C) exchange of goods and services directly for other goods and services. D) holding of money from one transaction to be used later in another transaction. E) use of money as a medium of exchange.
Who decides whether a movie is going to be a blockbuster? How do you think the creation of a blockbuster movie influences what, how, and for whom goods and services are produced?
What will be an ideal response?
Holding all else constant, when a bank receives the funds for a deposited check
A) cash items in the process of collection fall by the amount of the check. B) bank assets increase by the amount of the check. C) bank liabilities decrease by the amount of the check. D) bank reserves increase by the amount of required reserves.
Refer to the above figure. A perfectly competitive firm that is in long-run equilibrium will be operating
A) with positive economic profits. B) at a quantity greater than point E. C) at a quantity less than point E. D) at point E.