Jones and Smith are teaching assistants. Jones can grade 20 essays or 50 problem sets a day, while Smith can grade 20 essays or 10 problem sets a day. Therefore
A) Smith sacrifices 2 graded essays for every 2 problem sets she grades.
B) Smith sacrifices 10 graded essays for every 20 problem sets she grades.
C) Jones sacrifices 2 graded essays for every 5 problem sets he grades.
D) Both Smith and Jones have a comparative advantage in grading essays.
C
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The unemployment rate measures the percentage of
A) people who want full-time jobs, but can't find them. B) the working-age population who can't find a job. C) people in the labor force who can't find a job. D) the working-age population that can't find a full-time job. E) employed people who can't find a job.
You can put your $100 in Bank A that pays 8% at the end of the year. You can also put your $100 in Bank B that pays 4% at the end of six months and then 4% again at the end of the year. You will keep your $100 and all interest in the bank
At the end of the year A) the total will be the same at both banks. B) the total at Bank A will be greater. C) the total at Bank B will be greater. D) the total could be larger at either bank.
The price elasticity of demand for gasoline is estimated to be -0.2. Two million gallons are sold daily at a price of $1. Use this information to calculate a demand curve for gasoline assuming it is linear
What will be an ideal response?
Currently, total government expenditures in the United States have totaled about:
a. one-tenth of GDP. b. one-fifth of GDP. c. 40 percent of GDP. d. one-half of GDP.