In the above figure, at point a what is the opportunity cost of producing one more audio tape?
A) 1 video tape per audio tape
B) 2 video tapes per audio tape
C) 14 video tapes per audio tape
D) There is no opportunity cost.
A
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Ticket “scalping” is an example of
A. experimental economics. B. the limitation of the volume of transactions. C. the development of a black market. D. favoritism.
What were the two main sources of population increases during the antebellum period?
(a) a significant increase in the number of indentured servants and slaves (b) immigration and a natural increase in population (c) government policies providing incentive to procreate and advanced pre-natal care (d) longer life expectancies and high infant mortality rates
Rapid economic growth has increased the economic well-being of U.S. citizens because
a. people are now earning higher incomes while goods and services are cheaper b. the dollar is worth now more than in the past c. the output of goods and services has risen faster than the population d. the population is now living and working longer e. the population has increased while production has decreased
The higher the opportunity cost of borrowing, the higher the amount of investment, other things constant.
a. true b. false