The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Of the labeled points, only ________ are attainable.
A. W, X, Y, Z, and V
B. X, Y, and Z
C. W, X, Y, Z, V, and T
D. T and U
Answer: C
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According to the Rybczynski theorem, at constant world prices, if a country experiences a gain in its capital stock it will produce
A) more of the capital intensive good and less of the labor intensive good. B) more of both goods. C) less of the capital intensive good and more of the labor intensive good. D) less of both goods.
A person that is risk averse
A) exhibits decreasing marginal utility of wealth. B) exhibits increasing marginal utility of wealth. C) always engages in fair bets. D) loves lotteries.
A share of stock represents a claim on the assets of all the partners
Indicate whether the statement is true or false
Bob traps lobsters in Maine and sells them to a restaurant in Mexico. Other things the same, these sales
a. increase U.S. net exports and have no effect on Mexican net exports. b. increase U.S. net exports and decrease Mexican net exports. c. decrease U.S. net exports and have no effect on Mexican net exports. d. decrease U.S. net exports and increase Mexican net exports.