Refer to Figure 2-5. If the economy is currently producing at point Y, what is the opportunity cost of moving to point X?
A) 9 million tons of paper B) 5 million tons of paper
C) 5 million tons of steel D) 19 million tons of steel
B
You might also like to view...
A rational individual would be indifferent between ________ today and ________ four years from today if the interest is 20 percent
A) $100, $100 B) $48, $100 C) $30, $100 D) $100, $48
As a percentage of total expenditures, spending on highways has _____ since 1970 . Spending on interest payments has _____ over the same time span
a. increased; increased b. decreased; decreased c. increased; decreased d. decreased; increased
Tiffany is a black 21-year-old female, and Danielle is a black 41-year-old female. Both Tiffany and Danielle were accounting majors, and they graduated from the same college with the same GPA — Tiffany in 2013 and Danielle in 1992 . Tiffany and Danielle are both auditors at the same accounting firm. Tiffany earns $63,000 a year, and Danielle earns $95,000 a year. Select the best explanation for
this wage difference. a. Tiffany has more human capital than Danielle. b. Tiffany has less human capital than Danielle. c. Tiffany has been discriminated against because she is young. d. Danielle has been discriminated against because she is old.
The full-employment unemployment rate for the United States economy is now generally considered to be:
a. 5 percent of the labor force b. 2 percent of the labor force c. 0 percent of the labor force d. 3 percent of the labor force