Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800One pound of green beans costs Jake ________ pound(s) of corn. One pound of green beans costs Jane ________ pound(s) of corn.
A. 1, 4
B. 4, 1
C. 1, 1/4
D. 1/4, 1
Answer: B
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A "secured" loan is one
A) with no stated collateral. B) that is pending approval by a bank loan committee. C) which has collateral. D) in which the borrower is delinquent in loan payments but has not formally defaulted on.
There are two closely related crops, X and Y, with the following demand functions QX = 180 - 2PX + PY and QY = 150 + PX - PY where QX is the quantity of X, PX is the price of X, QY is the quantity of Y, and PY is the price of Y
These two crops are grown in two widely separated countries so there is no interrelationship between the supply curves. The short-run perfectly inelastic supply for X is 150 while the short-run perfectly inelastic supply for Y is 100. In equilibrium, the prices are A) PX = 80, PY = 130 B) PX = 40, PY = 65 C) PX = 60, PY = 120 D) PX = 30, PY = 80
A tax is proportional if, as a person's income rises, the
a. tax rate remains unchanged b. tax rate falls c. tax rate rises d. amount of the tax remains unchanged e. amount of the tax falls
QN=78 (17806) The CPI is more commonly used as a gauge of inflation than the GDP deflator is because
a. the CPI is easier to measure. b. the CPI is calculated more often than the GDP deflator is. c. the CPI better reflects the goods and services bought by consumers. d. the GDP deflator cannot be used to gauge inflation.