Mobutu Sese Seko was President of ________
A) Canada
B) Zaire
C) Cote d'Ivoire
D) Tajikistan
B
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The cost of an action is
A) indeterminate from a strictly economic point of view. B) the value of the next-best alternative opportunity sacrificed C) the cost to the consumer plus the cost to the producer. D) the number of consumers needed to set the price. E) measured only in money.
The closing of the frontier in the early 20th century led eventually to
(a) exhausting the land of all fertility by overusing it. (b) a change from an "intensive" to an "extensive" use of the land. (c) an emphasis on water conservation projects and the irrigation of arid lands. (d) the sale of Bureau of Land Management and Forest Service lands to provide more land for private agriculture.
The rate at which two currencies can be traded for each other is called the ________ exchange rate.
A. flexible B. nominal C. real D. fixed
The table below shows the number of labor hours required to produce one umbrella and one bushel of corn in the United Kingdom and the rest of the world. The United Kingdom has an absolute advantage in the production of Labor hours to make:In the United KingdomIn the Rest of the World1 umbrella3.002.001 bushel of corn1.000.25
A. both corn and umbrellas. B. only corn. C. only umbrellas. D. neither corn nor umbrellas.