An economy has two workers, Jen and Rich. Everyday they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. What is the opportunity cost for Rich to produce one TV?

A. 12 radios
B. 3 radios
C. 1/5 radio
D. 1/3 radio


Answer: B

Economics

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The term "tragedy of the commons" is used to describe

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Economics

Which of the following is an example of U.S. foreign direct investment and by itself increases U.S. net capital outflow?

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Economics

The unemployment that occurs as jobs are eliminated because of changing technology is known as

A. frictional. B. voluntary. C. structural. D. fundamental. E. cyclical.

Economics

If the demand for bacon is relatively elastic, a 10 percent decline in the price of bacon will:

A. decrease the amount demanded by more than 10 percent. B. increase the amount demanded by more than 10 percent. C. decrease the amount demanded by less than 10 percent. D. increase the amount demanded by less than 10 percent.

Economics