Refer to Exhibit 2-8. For Maya, the opportunity cost of producing one unit of good Y is ___________ unit(s) of good X.
2.00
You might also like to view...
Economists John Cogan, Glenn Hubbard, and Daniel Kessler have estimated that repealing the tax preference for employer-provided health insurance would
A) increase overall spending on health care as consumers would have to pay a higher price for medical services. B) reduce spending by people enrolled in these programs by 33 percent. C) significantly reduce the effectiveness of the health care received by those enrolled in these programs. D) drive up prices for health care coverage since insurance reimbursements to doctors would be reduced.
Which of the following leads to an underallocation of resources to a specific economic activity?
A) external costs B) external benefits C) marginal costs D) effluent benefits
One reason why purchasing power parity may not work perfectly is that some goods, because of their nature, are difficult to trade
a. True b. False
Under a gold standard, if the market price of gold is above the official price of gold (set by the monetary authority), people will be more likely to sell gold __________________, which will cause the money supply to _______________ and the price level.to _______________
A) to the monetary authority; fall; fall B) to the monetary authority; rise; rise C) in the gold market; fall; fall D) in the gold market; rise; rise