Refer to Table 7-6. Prior to trade, what was the opportunity cost to produce 1 sword in Estonia?
A) 1/3 of a belt B) 3/5 of a belt C) 1.67 belts D) 3 belts
B
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Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for $5. Number of WorkersPizzas Baked Per Day00110218324430532How many workers will Joe hire if he must pay each one $35 a day?
A. 1 B. 2 C. 3 D. 4
It is relatively easy for firms to enter and exit a perfectly competitive market
a. True b. False Indicate whether the statement is true or false
During the so-called wildcat banking period in the United States,
a. there was no central authority in the U.S. banking system. b. abusive banking practices were prevalent. c. the National Banking System provided bank note security. d. there was no central authority in the U.S. banking system AND abusive banking practices were prevalent.
If government expenditures exceed tax receipts in a developing country, the government is most likely to:
A. increase taxes. B. cut spending. C. sell bonds to the central bank. D. buy bonds from the central bank.