Rational decision making must always be based on the concept of opportunity cost
a. True
b. False
Indicate whether the statement is true or false
True
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What are the sources of human capital?
What will be an ideal response?
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Country A has the absolute advantage in the production of:
A. iPods only. B. tablets only. C. both iPods and tablets. D. neither iPods nor tablets.
Why does it usually NOT make sense to reduce pollution to zero?
What will be an ideal response?
Suppose that this year a small country has a GDP of $100 billion. Also assume that Ig = $30 billion, C = $60 billion, and Xn = – $10 billion. How big is G?
A. $10 billion B. $20 billion C. $60 billion D. $30 billion