Evan can grow both roses and carnations in his garden. His production possibility table is shown below. If he is currently producing 110 roses, his opportunity cost of producing 40 more roses is:Number of rosesNumber of carnations015560135110109150781800
A. 31 carnations
B. 78 carnations
C. 26 carnations
D. 20 carnations
Answer: A
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Firms in an oligopoly are said to be interdependent. What does this mean?
What will be an ideal response?
An economic system in which relative prices change to reflect changes in supply and demand for different commodities is known as a
A) socialist system. B) communist system. C) queuing system. D) market system.
Who benefits primarily from rent controls?
A) construction workers B) poor people looking for low-income housing C) all who want to rent D) only renters who are able to get units at below-market rates
The classical theory of inflation illustrates the relationship among:
A. money supply, output, and the overall level of prices. B. spending, saving, and the overall price level. C. savings, investment, and the interest rate. D. money supply, savings, and investment.