Western European workers get about ____ weeks vacation time; American workers get about ____ weeks vacation time.
Fill in the blank(s) with the appropriate word(s).
5; 2-3
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Based on the table "Real and Nominal GDP," if year one is the base year, then the nominal GDP in year two, is ________
A) 8250 B) 5000 C) 7200 D) 7500 E) none of the above
Suppose that installing an overhead pedestrian walkway would cost a college town $150,000 . The walkway is expected to reduce the risk of fatality by 3 percent, and the cost of a human life is estimated at $10 million. The town should
a. install the walkway because the estimated benefit is twice the cost. b. install the walkway because the estimated benefit equals the cost. c. not install the walkway, since the cost is twice the estimated benefit. d. install the walkway, since the cost of even a single life is too great not to take action.
Graphically, the market demand curve is:
A. steeper than any individual demand curve that is part of it. B. greater than the sum of the individual demand curves. C. the horizontal sum of individual demand curves. D. the vertical sum of individual demand curves.
Economics is about the allocation of scarce resources. Which of the following is NOT an example of economic scarcity?
A) If Steve goes to see a movie on Saturday, he will not be able to afford buying ice cream. B) If Jenny studies for her economics quiz this evening, she will not have time to walk her dog. C) If General Motors increases its production of SUVs this year, it will have to spend more on advertising. D) If Barnes and Noble bookstore increases the number of titles it carries, it will have to reallocate shelf space to accommodate the new titles.