Moving between two points on a PPF, a country gains 8 desktop computers and forgoes 4 laptop computers. The opportunity cost of 1 desktop computer is
A) 4 laptops.
B) 1/2 of a lapto
B
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Which of the following would lead to a short-run market surplus for tomatoes?
A) The price of tomatoes increases. B) A new government study shows that tomatoes have a greater risk of contamination from salmonella. C) An increase in the price of potatoes. D) A decrease in the number of tomato growers.
A car purchased by you is rival because:
a. you can prevent others from using your car. b. it has many competitors. c. your use of this car makes it unavailable for others. d. it is nonexcludable.
At equilibrium expenditure...
a) consumers' expenditures on goods and services equal firms' purchases of investment goods b) firms hold no inventories of raw materials or final goods c) aggregate planned expenditure equals real GDP d) aggregate planned expenditure equals real GDP minus net exports
Manufacturers often find it in their interest to set minimum resale prices because
What will be an ideal response?