In 1999 the European unemployment rate was ________ that in the United States
A) double
B) triple
C) equal to
D) lower compared to
A
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In the above figure, when the interest rate is 8 percent and household income is $40,000, household consumption is
A) $0. B) $20,000. C) $35.000. D) $60,000.
A perfectly competitive apple farm produces 1,000 bushels of apples at a total cost of $36,000. The price of each bushel is $50. Calculate the firm's short-run profit or loss
A) profit of $50,000 B) loss of $14,000 C) profit of $14,000 D) There is insufficient information to answer the question.
Perfume (bottles) Cloth (yards) Nancy 20 15 Roger 24 12 The table above shows how much each of two people can produce in 40 hours. (For example, Nancy can produce 20 bottles of perfume in 40 hours.) For Roger, what is the opportunity cost of producing 1 bottle of perfume?
a. 3 yards of cloth b. 2 yards of cloth c. 1 yard of cloth d. 1/3 yards of cloth e. 1/2 yards of cloth
The opportunity cost of capital owned by the firm should reflect
A. the return foregone by using the capital rather than renting it to another firm. B. acquisition cost. C. wage rate differences. D. both a and b