Juanita makes $36 an hour at work. She has to take time off work to purchase her dress, so each hour away from work costs her $36 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.

Assuming the inner curve is the United States' current production possibilities frontier, which of the following points would eventually lead to the greatest level of economic growth?

A. Point J
B. Point N
C. Point K
D. Point P

The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 

A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A

Melissa is a self-employed lawyer who chooses a higher-priced restaurant 2 miles from home over a cheaper restaurant 15 miles from home. Which of the following is the most likely explanation for her behavior?

a. The opportunity cost of her time is very low. b. She doesn't take travel time into consideration. c. She doesn't like to cook or doesn't know how. d. The prices at the more expensive restaurant understate the opportunity cost of eating there. e. The higher monetary cost of the more expensive restaurant is offset by the higher opportunity cost of the lower-priced restaurant.

Society's resources include

a. land and labor b. labor and machinery c. land, labor, and capital d. land, capital, and money e. labor, capital, and money