Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one snowboard is painting
A) 1/8 of a kite. B) 1.5 kites. C) 8 kites. D) 12 kites.
C
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The employment-to-population ratio is
A) 67 percent. B) 64 percent. C) 50 percent. D) 62 percent.
As an economy moves from point to point along its production possibilities curve, which one of the following variables changes?
A) the total amount of resources employed B) the level of technology C) the time frame under consideration D) the amount of each good or service produced
The Fed's principal decision-making body, which directs buying and selling U. S. government securities, is known as the:
a. Federal Deposit Insurance Corporation. b. District Board of Governors. c. Federal Open Market Committee. d. Reserve Requirement Regulation Conference.
In the absence of trade between the two countries, the price of rice in China in terms of radios would be
A. 1/2.
B. 2.
C. 150.
D. 300.