For all workers together, real wages grew between _____ and _____ percent between 1820 to 1860
a. 10; 20
b. 40; 60
c. 60; 90
d. 100; 150
c. 60; 90
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At the equilibrium level of income, the value of consumption is equal to
A) (consumption - savings). B) (income - investment). C) (savings + investment). D) (income + investment).
Suppose there is an oligopoly in the bottled cold coffee industry. Which of the following is probably the most significant barrier to entry?
a. The existing firms have expertise in using game theory strategies. b. No patents have been granted to the existing firms in the industry. c. The existing firms own most of the coffee bean plantations. d. There are no tariffs imposed on coffee bean imports.
If this is a closed economy, the price of a TV will be ________.
A. $75 B. $175 C. $275 D. $125
Production Possibility Schedules for Two South Pacific Island NationsKiribatiTuvaluMangoesCoconutsMangoesCoconuts30001,20002004008001,2001008004002,40001,20003,600A comparative advantage in the production of coconuts is held by:
A. neither country. B. both countries. C. Tuvalu. D. Kiribati.