The United States can use all its resources to produce 250 DVDs or 500 shoes. China can use all of its resources to produce 30 DVDs or 300 shoes. The opportunity cost of producing a DVD in the United States is
A) 500 shoes. B) 1 DVD. C) 1/2 of a shoe. D) 20 shoes. E) 2 shoes.
E
Economics
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Net exports is calculated by:
A. adding total exports and total imports together. B. subtracting total exports from total imports. C. subtracting total imports from total exports. D. None of these is correct.
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The long-run growth of an economy depends on productive resources (land, labor, and capital) and on technological advances
a. True b. False Indicate whether the statement is true or false
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What are the reasons that are usually given to justify regulation?
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What function is money serving when you use it when you go shopping?
A medium of exchange A store of value A medium of deferred payment A unit of account
Economics