Refer to Table 2-14. What is Scotland's opportunity cost of producing one guitar?
A) 0.25 motorcycles B) 4 motorcycles C) 12 motorcycles D) 16 motorcycles
A
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If Bonnie can produce either 10 hats or 20 scarves in a month, and Phil can produce either 10 hats or 5 scarves in a month, then
A) Bonnie is equally efficient at producing hats, compared to Phil. B) Bonnie is more efficient at producing hats, compared to Phil. C) Bonnie is more efficient at producing scarves, compared to Phil. D) Phil is more efficient at producing scarves, compared to Bonnie.
Billy's income elasticity of demand for ground beef is -0.5 and his income elasticity of demand for pork chops is 1.2 . Is ground beef a normal or inferior good? Explain. What about pork chops?
What will be an ideal response?
As nonunion construction workers replace a unionized work force, the average wage in the construction sector is likely to rise
Indicate whether the statement is true or false
Securitization is a process of asset transformation that involves a number of different financial institutions working together. These financial institutions are known collectively as the
A) transformers. B) amalgamation. C) movers and shakers. D) shadow banking system.