Refer to Table 2-11. What is South Korea's opportunity cost of producing one digital camera?
A) 0.05 pounds of wheat B) 20 pounds of wheat
C) 25 pounds of wheat D) 60 pounds of wheat
B
You might also like to view...
Georgia's great uncle gave her a $5,000 savings bond as a wedding gift. The bond pays $5,000 at maturity, which is in 10 years. If the interest rate is 4%, the bond has a present value of $ 3,377.82
Indicate whether the statement is true or false
In 2012, direct government purchases equaled ________ percent of federal outlays
A) 42 B) 71 C) 26 D) 55
An exchange rate depreciation acts to reduce inflation
a. True b. False Indicate whether the statement is true or false
Which of the following is a positive side effect of business start-ups and the business failures that often follow?
a. The process makes it possible to try out numerous new ideas, and some of them will substantially improve our lives. b. The process increases total employment, and leads to a lower rate of unemployment. c. The process generates additional revenue for the government, which will then be used to produce goods and services that people value. d. This is a trick question. There are no positive side effects of business failures.