The United States imports t-shirts because
A) it is a dangerous job to produce them.
B) the United States has a lower opportunity cost of production.
C) the United States must import goods and services from other countries so that they can develop economically.
D) foreign economies have an absolute advantage in their production.
E) foreign nations have a lower opportunity cost of production.
E
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Suppliers will be willing to supply a product in all of the following situations except when
A) the price received is greater than the additional cost of producing the product. B) the price received is at least equal to the additional cost of producing the product. C) the price received is less than the additional cost of producing the product. D) the price received is equal to the additional cost of producing the product.
If marginal utility is a positive number:
a. the more you purchase, the more total utility you get b. the more you purchase, the less total utility you get c. utility is not affected by more purchases d. none of these is correct
Examples of graphs of a single variable include pie charts, bar graphs, and time-series graphs
a. True b. False Indicate whether the statement is true or false
If inflation falls,
a. people choose to put in more effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from lenders to borrowers. b. people choose to put in more effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from borrowers to lenders. c. people choose to put in less effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from lenders to borrowers. d. people choose to put in less effort to keep money balances low. When inflation is unexpectedly low it redistributes wealth from borrowers to lenders.