Refer to the information provided in Figure 6.15 below to answer the question that follows.
Figure 6.15Refer to Figure 6.15. If the price of a hot dog is $4, Jason's income is
A. $50.
B. $400.
C. $600.
D. indeterminate because the price of sandwiches is not given.
Answer: B
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) In country A, total business income after immigration occurs is:
A. $320M
B. $720M
C. $650M
D. $1,200M
The statistical discrepancy in the balance of payments
a. is always positive b. is always negative c. is always zero d. is either positive, negative, or zero e. is indeterminate
Each point on a production possibilities frontier represents an efficient allocation of resources in an economy at one point in time.
Answer the following statement true (T) or false (F)
Firms are more likely to avoid a prisoners' dilemma when they interact repeatedly than when they rarely interact.
Answer the following statement true (T) or false (F)