Refer to the information provided in Figure 33.1 below to answer the question(s) that follow.
Figure 33.1Refer to Figure 33.1. The opportunity cost of producing a bushel of alfalfa in Canada is
A. half a bushel of soybeans.
B. 1 bushel of soybeans.
C. 2 bushels of soybeans.
D. zero.
Answer: B
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Millionaires tend to be older than the general population because
a. older workers generally have more education than younger workers. b. many achieve millionaire status by saving from a relatively modest income, and this will take a lengthy period of time. c. the earnings of most people peak during the retirement phase of life. d. older people have less to do, and therefore, they have more time to come up with innovative ideas.
GoodPrice Increase Last YearAmusement park tickets5.0%Bowling balls4.2%Camouflage neckties3.1% Refer to Table 8.1, which gives hypothetical data on price changes for three goods. If the overall rate of inflation in the economy was 3.5%, what happened to the real price of amusement park tickets?
A. The real price of amusement park tickets rose by 8.5%. B. The real price of amusement park tickets fell by 1.5%. C. The real price of amusement park tickets rose by 5.0% D. The real price of amusement park tickets rose by 1.5%.
The difference between "saving" and "savings" is that
A. saving is undertaken as a precaution against unemployment and savings are undertaken to increase investment spending. B. saving is placed in financial institutions such as banks, while savings are kept at home by people. C. saving is done by households and savings are done by businesses. D. savings are cumulation of past and current saving.
What is Moore's Law?
What will be an ideal response?