If the relative price of S in terms of T is 2 and S has a nominal price of $1, then the nominal price of T is
A) $2.
B) 50 cents.
C) 1/2 S.
D) Need more information to answer.
B
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If all of the money currently spent on redistribution in the United States were directly transferred to the poor _____
a. it could turn the hard-core poor into the marginal poor b. it would not turn the hard-core poor into the marginal poor c. it is unclear what the effect would be on the hard-core poor d. the income of the poor would be raised above the current national average
Suppose all 18-year-olds are identical in every way except that some have easy access to credit (i.e., they face a low interest rate when borrowing money) while others have a difficult time accessing credit (i.e., they face a high interest rate when borrowing money). Which of the following statements is not true?
A. Those who have easy access to credit have a lower rate of discount than those who do not have easy access to credit. B. Those who have easy access to credit will be more likely to go to college than those who do not have easy access to credit. C. No one without easy access to credit will go to college. D. Some people who have easy access to credit will not go to college. E. The present value calculation of college will be higher for those who have easy access to credit than for those who do not have easy access to credit.
Table 1.2 shows the hypothetical trade-off between different combinations of Stealth bombers and B-1 bombers that might be produced in a year with the limited U.S. capacity, ceteris paribus.Table 1.2Production Possibilities for BombersCombinationNumber of B-1 BombersOpportunity cost(Foregone Stealth)Number of Stealth BombersOpportunity cost (Foregone B-1)A20NA195 B35 180 C45 150 D50 100NAOn the basis of Table 1.2, what is gained by producing at point B rather than point A?
A. 195 Stealth bombers. B. 35 B-1 bombers. C. 15 B-1 bombers. D. 15 Stealth bombers.
At the Larson Bakery the marginal products of the first, second, and third sales clerks are 30, 27, and 21 customers served, respectively. The total product (number of customers served) of the three sales clerks is
A. 30. B. 57. C. 78. D. 109.