If all my savings are invested in my consulting company, an increase in the interest rate increases my implicit costs
a. True
b. False
A
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Suppose the nation of Arcadia produces only two goods, teapots and surfboards. If Arcadia produces only teapots, it can make 80 per day. If Arcadia produces only surfboards, it can make 30 per day
What is the opportunity cost of 1 teapot in Arcadia? A) 3/8 of a surfboard B) 8/3 surfboards C) 30 surfboards D) 80 surfboards
Labor unions cause unemployment because the union contract wage is set
A) below the market wage, causing a shortage of labor. B) above the market wage, causing a surplus of labor. C) above the market wage, causing a shortage of labor. D) below the market wage, causing a surplus of labor.
If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculate the arc price elasticity
A) -1.92 B) -1.64 C) -4 D) -2
In many countries, the system of titling is:
A. weak, allowing more and faster investment. B. weak, slowing economic development. C. strong, slowing the amount of property transfer. D. strong, slowing economic growth.