Table 1.2 shows the hypothetical trade-off between different combinations of Stealth bombers and B-1 bombers that might be produced in a year with the limited U.S. capacity, ceteris paribus.Table 1.2Production Possibilities for BombersCombinationNumber of B-1 BombersOpportunity cost(Foregone Stealth)Number of Stealth BombersOpportunity cost (Foregone B-1)A20NA195 B35 180 C45 150 D50 100NAThe lowest opportunity cost in Table 1.2 for Stealth Bombers is
A. 2 B-1 bombers
B. 3 B-1 bombers
C. 4 B-1 bombers
D. 10 B-1 bombers
Answer: D
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Average growth rates of per capita income were close to zero, on average, prior to the Industrial Revolution.
Answer the following statement true (T) or false (F)
Proponents of zero-inflation policies acknowledge that the public is unconcerned about the inflation rate
a. True b. False Indicate whether the statement is true or false
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What will be an ideal response?
________ are costs that do not require a monetary payment.
A. Implicit costs B. Explicit costs C. Accounting costs D. All opportunity costs