In economics, choosing one activity means:
A. choosing not to take advantage of another opportunity.
B. people always act rationally.
C. people signal they only like that activity.
D. that activity must be observable to be studied.
A. choosing not to take advantage of another opportunity.
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In the figure above, point E could be obtained if
A) resources were shifted from education to health care. B) resources were used more efficiently. C) society's resources increased. D) resources were shifted from health care to education.
Refer to Figure 17-1. If the wage rate is $40, how many workers should Dale hire?
A) 6 B) 5 C) 4 D) 3
Immigration significantly contributed to economic growth in the U.S. throughout the entire period between Independence and the Civil War
Indicate whether the statement is true or false
Trade between countries should be
A. encouraged for developed countries but not for developing countries. B. discouraged for developed countries but encouraged for developing countries. C. discouraged for both developed and developing countries. D. encouraged for both developed and developing countries.