Refer to the tables. Opportunity costs of producing military goods are:
A. increasing in Duckistan but constant in Herbania.
B. constant in both Duckistan and Herbania.
C. larger in Duckistan than in Herbania.
D. smaller in Duckistan than Herbania.
D. smaller in Duckistan than Herbania.
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If more people enter medical school, we can expect:
a. the demand for doctors to increase. b. the supply of doctors to increase. c. the demand for doctors to decrease. d. the supply of doctors to decrease. e. no effect on the supply or demand of doctors?just a movement along the curves.
When an employee at a grocery store scans the price of your items, bags the groceries, and collects your paper, the individual has provided
A) physical capital.
B) entrepreneurship.
C) a service.
D) land.
Implicit costs are best thought of as the entrepreneur's
a. variable costs b. marginal costs c. accounting costs d. opportunity costs e. sunk costs
A person receives a paper asset from a corporation that is a promise from the corporation to repay a loan at a fixed rate of interest. This type of asset is referred to as a:
A. share. B. bond. C. stock. D. bank loan.