Refer to the figure above. What is the domestic production of calculators in Barylia, once the economy opens up to free trade?
A) 10 units
B) 30 units
C) 60 units
D) 100 units
C
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Suppose an economy consists of 500,000 individuals 16 years and older, 260,000 are employed, and 21,000 are unemployed but actively seeking work. In this example the unemployment rate is approximately
A) 4.2 percent. B) 6.1 percent. C) 7.5 percent. D) 8.0 percent.
Refer to Table 9-11. Prior to trade, what was the opportunity cost to produce 1 clock in Belize?
A) 1/2 of a hat B) 2/3 of a hat C) 1.5 hats D) 2 hats
Which of the following statements is not true?
a. Because the quantity of Bitcoins is capped at about 21 million in 2040 it is practically impossible for the currency to ever be a significant threat to large nations, like the United States and Japan, whose money supplies are measured in the trillions of dollars and yen. b. Bitcoins can be bought, traded, and earned by solving a time-consuming computer algorithm. c. Bitcoins are becoming more widely accepted by real-world merchants. d. None of the statements above is false. They are all true.
The two parts of the Keynesian consumption function are consumption that depends on ________ and consumption that depends on ________.
A. planned spending; unplanned spending B. real income; nominal income C. money; wealth D. disposable income; factors other than disposable income