Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Without trade, Jake consumes 20 pounds of green beans and 80 pounds of corn, and Jane consumes 40 pounds of green beans and 40 pounds of corn. If the terms of trade are 1 pound of green beans for 3 pounds of corn, and Jake sells Jane 72 pounds of corn after specialization, then Jane consumes ________ pounds of green beans and ________ pounds of corn.
A. 56, 72
B. 88, 24
C. 72, 56
D. 24, 88
Answer: A
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In the United States, money supply is most commonly referred to as ________
A) M1 B) M2 C) M3 D) M4
During the fiscal expansion associated with the Vietnam war, what type of expenditures was initially "crowded out?"
A) autonomous consumption B) nonresidential fixed investment C) residential construction D) nonresidential construction
Curly and Moe are considering living alone or being roommates and splitting the rent for the next twelve months. If they live alone, they each rent a one bedroom, one bath apartment for $500 per month, while if they are roommates, they can split a two bedroom, one bath apartment for $800 per month. The one difficulty they have is that Moe snores very loudly. Curly estimates the cost of poor sleep due to Moe's snoring at $150 per month. Moe could obtain a snore-eliminating device for $50 per month. The least costly solution to the externality present in this situation is for:
A. Curly to endure Moe's snoring. B. Moe to pay Curly for his discomfort. C. both to live alone. D. Moe to eliminate his snoring.
The recent growth records of Japan and Hong Kong during the last 50 years indicate that a nation can grow rapidly without:
A. securely defined property rights. B. adopting modern technology. C. significant capital formation. D. abundant domestic natural resources.