Which of the following countries had the lowest level of output per capita in 1950?
A) United States
B) France
C) Japan
D) United Kingdom
C
You might also like to view...
Refer to Table 11.1. If exports decrease by 30, what is the new equilibrium level of output?
A) 1,700 B) 2,300 C) 6,800 D) 9,200
The marginal product of any input into the production process:
A. is the increase in output that is generated by an additional unit of input. B. is the decrease in input that is generated by an additional unit of output. C. is the constant ratio of inputs to outputs. D. None of these is true.
At the minimum wage (set above the equilibrium wage),
A) all individuals who end up working are paid less than if they were paid the equilibrium wage. B) none of the workers will lose there jobs or find themselves working fewer hours. C) none of the individuals who end up working are paid more than if they were paid the equilibrium wage. D) there will be fewer people working (or fewer labor hours demanded) than at the equilibrium wage. E) none of the above
Refer to Figure 2-12. What is the opportunity cost of producing one gallon of milk in Bora Bora?
A) 1.5 gallons of honey B) 0.8 gallons of honey C) 1.125 gallons of honey D) 2/3 of a gallon of honey