What is the opportunity cost of 1 ton of oranges for the nations of Argentina and Brazil, respectively?
A. .25 ton of apples and .5 ton of apples
B. 10 tons of apples and 4 tons of apples
C. .5 ton of apples and .25 ton of apples
D. 4 tons of apples and 2 tons of apples
C. .5 ton of apples and .25 ton of apples
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When competing firms set prices with attention to the prices set by their competitors, the demand curve faced by each firm
A) becomes indeterminate. B) becomes less elastic. C) becomes more elastic. D) shifts toward the northeast. E) shifts toward the southwest.
The table above shows the marginal private benefit, marginal social benefit, and marginal cost of education at the College of Epsilon. What subsidy per student will the college require to take in the efficient number of students?
A) $2,400 B) $400 C) $2,800 D) $3,400
Low levels of sales that cause low levels of investment spending is an example of a
a. vicious circle. b. virtuous circle. c. convergence circle. d. divergence circle.
The principal difference between income and money is that income is a ____ and money is a ____
a. schedule, curve b. point, line c. stock, flow d. flow, stock