Refer to Figure 2-11. What is the opportunity cost of producing 1 bolt of cotton in Pakistan?
A) 3/8 of a pound of cashews B) 5/8 of a pound of cashews
C) 1 3/5 pounds of cashews D) 150 pounds of cashews
B
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Equalization of resources across school districts would be less of a concern if _____
a. there was no link between spending and achievement b. there was a strong link between spending and achievement c. classroom teachers were better paid d. taxpayers were willing to spend more
Programs to equalize household income would most harm ______.
a. medium-income single people b. low-income large families c. low-income married couples d. high-income large families
Government outlays include all of the following EXCEPT
A) dividend payments. B) spending on the military. C) electricity for the Capital Building. D) letterhead stationery.
Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. After looking at the production possibilities for both Tom and Jerry, we can surmise that:
A. Jerry has the absolute advantage in the production of both dishes and fences. B. Tom has the absolute advantage in the production of fences and Jerry has the absolute advantage in dish production. C. Tom has the absolute advantage in the production of dishes and Jerry has the absolute advantage in fence production. D. Tom has the absolute advantage in the production of both dishes and fences.