Suppose that there are two laws proposed for eviction notices. Plan A requires landlords to give a renter 30 days to vacate an apartment once he has been served an eviction notice. Under Plan B, he has 60 days to vacate an apartment once he has been served an eviction notice. It follows that landlords will find
A) Plan A more expensive than Plan B.
B) Plan B more expensive than Plan A.
C) both plans to be equally expensive.
D) none of the above
B
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Refer to Table 2-11. China has a comparative advantage in the production of
A) digital cameras. B) wheat. C) both products. D) neither product.
Which of the following is true for a competitive buyer?
A) AE = ME B) AE > ME C) AE < ME D) AE greater than or equal to ME
Which movement between two points represents economic growth?
A. J to K
B. K to L
C. L to M
D. M to N
Which of the following statements about a movement along the production possibilities curve in the above figure is FALSE?
A. There are no opportunity costs involved in choosing one point on the curve over all other points. B. Society cannot have more of both goods at the same time. C. An additional computer can be produced only if fewer televisions are produced. D. The trade-off between computers and televisions is not constant.