Refer to Figure 2-2. What is the opportunity cost of one pound of meat?
A) pound of vegetables B) pounds of vegetables
C) 1.6 pounds of vegetables D) 16 pounds of vegetables
B
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If foreigners held U.S. assets worth $200 billion during a certain year and the value of the current account for that year was -$189 billion, the total volume of foreign assets held domestically was worth ________
A) $101 billion B) $389 billion C) $421 billion D) $211 billion
The above figure shows the market for bicycles. When there is a physical fitness craze so that everyone wants to exercise the
A) demand curve for bicycles shifts from D1 to D2. B) demand curve for bicycles shifts from D2 to D1. C) demand curve and the supply curve of bicycles do not shift. D) supply curve of bicycles shifts from S1 to S2.
In an arms race between two nations, both would be better off if _____
a. they could agree not to engage in the arms buildup b. if more countries entered the arms race c. one nation controlled more resources than the other d. a conflict broke out in another part of the world
To increase employment, the most effective type of government budget would be a
a. surplus budget. b. balanced budget. c. deficit budget. d. falling budget.