Refer to Figure 2-14. What is the opportunity cost of producing 1 popsicle in Greenland?
A) 2/3 of a snow cone B) 5/6 of a snow cone C) 1 1/5 snow cones D) 240 snow cones
C
You might also like to view...
Pareto improvements that require the use of side payments typically are easy to coordinate and tend to enhance economic efficiency
a. True b. False
The ability of the Federal Reserve to use monetary policy to affect economic variables such as real GDP ultimately depends upon its ability to affect
A) tax rates. B) real interest rates. C) nominal interest rates. D) foreign exchange rates.
The income effect of an increase in the interest rate will result in an increase in consumption when a. young and an increase in savings when young. b. old and an increase in savings when young
c. young and a decrease in savings when young. d. old and an increase in savings when old.
Arbitrage causes an equalization of the _________ when assets are identical or nearly identical
A. levels of risk of assets B. rates of return of assets C. time when payments are made from assets D. prices of assets