Refer to Table 18.1. The opportunity cost of a hat in Russia is
A) 1/3 of a glove. B) 1/2 of a glove. C) 2 gloves. D) 3 gloves.
A
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Discuss the impact of demand and supply changes on market equilibrium price and quantity. Express this graphically
The key explanation for the prevalence of waterway pollution is: a. the inclusion in decisions of all production costs associated with the use of waterways
b. that there are private costs but no costs to society associated with the use of waterways that are not costs to society. c. that waterways are not private property and can be used free of charge. d. that waterways are not of great value to society.
In cases of natural monopoly, it is best to have only one firm producing all of the output in a market
a. True b. False Indicate whether the statement is true or false
The change in saving divided by the change in income is the:
A. marginal propensity to save. B. saving function. C. average propensity to save. D. extra propensity to save.