In the above figure, Jack's opportunity cost of producing 1 gallon of soda is ________ of bottled water
A) 2 gallons
B) 1/2 of a gallon
C) 6 gallons
D) 1 gallon
E) 1/4 of a gallon
A
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If there is a direct relationship between two variables
A) the graph of the relationship will be upward-sloping. B) the graph of the relationship will be downward-sloping. C) the slope of the line (or the slope of a tangent line to the curve) will be negative. D) Both answers A and C are correct.
In official government statistics, the GDP deflator is actually calculated using:
A. a method called a chain-weighted index. B. the ratio of nominal GDP to real GDP from the year before it. C. a simpler approach, so the results are easily comparable. D. the value of a market basket that households typically purchase.
A technology spillover occurs when one firm's research and production increase another firm's access to technological advances
a. True b. False Indicate whether the statement is true or false
In the prisoners' dilemma game with Bonnie and Clyde as the players, the likely outcome is
a. a very good outcome for both players. b. a very good outcome for Bonnie, but a bad outcome for Clyde. c. a very good outcome for Clyde, but a bad outcome for Bonnie. d. a bad outcome for both players.