An economy has two workers, Jen and Rich. Every day they work, Jen can produce 2 TVs or 10 radios, and Rich can produce 4 TVs or 12 radios. What is the opportunity cost for Jen to produce one radio?
A. 1/10 TV
B. 10 TVs
C. 1/5 TV
D. 5 TVs
Answer: C
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The yield on a bond is the
A. annual coupon payment divided by the price paid for the bond. B. coupon rate divided by the price paid for the bond. C. annual coupon payment divided by the face value of the bond. D. same as the interest rate on the bond. E. a and d
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A) real variables B) nominal variables C) implicit variables D) index variables E) none of the above
The lump sum principle suggests that the tax that reduces utility the least is
a. a tax on income b. a tax on a good with many substitutes c. an equal tax per-unit on all goods d. a tax on a good with only a few substitutes
By 2040, the dependency ratio for Japan is expected to be closest to which number?
A) 1 to 1 B) 1.5 to 1 C) 3 to 1 D) 5 to 1