How much food production would Calvin lose in a day in order to produce 2 yards of cloth?
a. 2 pounds
b. 1-1/2 pounds
c. 1 pounds
d. 1/2 pound
b. 1-1/2 pounds
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Refer to the scenario above. The real GDP of the country in Year 1 was ________
A) $280,000 B) $2,200,000 C) $540,000 D) $1,400,000
Joe's hotdog stand merges with a company that supplies the condiments to Joe's. This is an example of
A) conglomerate merger. B) concentration ratio. C) vertical merger. D) horizontal merger.
People are unlikely to choose to pay extra for a low-emissions automobile, because they:
a. do not fully understand the environmental benefits of lower emissions. b. are better off "free-riding" on others' attempts to reduce emissions. c. would have to sacrifice fuel efficiency and automotive performance. d. cannot afford the extra expense of "green" technology.
Exhibit 10-4 Supply and demand curves for food servers
?
In Exhibit 10-4, the equilibrium wage and the number of food servers employed per day, respectively, are:
A. $2.00 and 5,000. B. $4.00 and 10,000. C. $6.00 and 15,000 D. $8.00 and 20,000.