The following economy produces two products.ProductsProduction Possibilities?ABCDEFSteel012345Wheat100907555300Refer to the above table. The total opportunity cost of the three units of steel is:
A. 45 units of wheat.
B. 15 units of wheat.
C. 20 units of wheat.
D. 55 units of wheat.
Answer: A
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A time-series graph showing total production in Japan from 1960 to 2010 shows a positive trend. It is the case that total production
A) fell every year between 1960 and 2010. B) rose every year between 1960 and 2010. C) was lower in 2010 than in 1960. D) was higher in 2010 than in 1960.
How are Federal Reserve Board Governors selected?
A strategy is dominant if:
A. it is one of several best responses for a player, regardless of other players' choices. B. it is a player's only best response, given a particular choice of the other players. C. it is independent of other players' choices. D. it is a player's only best response, regardless of other players' choices.
A reserve requirement of 12.5 percent implies a potential money multiplier of: a. 5
b. 8. c. 12.5. d. 112.5.