What is Wendy’s opportunity cost of producing a pound of food?
a. 1/2 yard of cloth
b. 1 yard of cloth
c. 1-1/2 yards of cloth
d. 2 yards of cloth
a. 1/2 yard of cloth
You might also like to view...
Forces inside a nation that cause people to think about leaving that nation are called what in migration theory?
What will be an ideal response?
Americans will benefit if China has enough purchasing power to enable its people to buy American products
a. True b. False Indicate whether the statement is true or false
What is a problem with barter that makes it so difficult to use?
A) Individuals have to produce something to trade with. B) Barter omits the store of value role for money. C) Barter requires use of only fiat money. D) Barter requires a double coincidence of wants. E) Barter is very efficient but illegal because it avoids taxation.
Identify whether each of the following policies is an example of (1 ) a discretionary fiscal policy, (2 ) an example of an automatic stabilizer, or (3 ) not a fiscal policy
a. Food stamps b. Government spending on rebuilding airports c. Tax credits for the purchase of energy efficient appliances d. The extension of the "Bush tax cuts" of 2001 and 2003 e. Changing the required reserve ratio f. The bailout of large financial institutions during the financial crisis g. The progressive income tax system