Continuing with the same family from the preceding question, what is the greatest (integer) number of vacation days the family would be willing to give up in order to guarantee a healthy vacation?
a. 3
b. 4
c. 5
d. 6
c
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The federal government collects taxes on
a. real capital gains. b. nominal capital gains. c. real capital losses. d. nominal capital losses.
Eurozone countries:
a. have no separate legal tender. b. are pegged to the euro. c. are pegged to the dollar. d. are fixed against a single currency
Amy can produce either 5,000 pounds of cheese or 20 cars per year. Mike can produce either 5,000 pounds of cheese or 10 cars per year. If both Amy and Mike produce the good in which they have comparative advantage, the total annual output of this economy will be ________.
A. 30 cars B. 10,000 pounds of cheese and 30 cars C. 5,000 pounds of cheese and 20 cars D. 10,000 pounds of cheese
Along a production possibilities curve, an increase in the production of one type of good can be accomplished only by:
A. decreasing the price of the other type of good. B. increasing the production of the other type of good. C. holding constant the production of the other type of good. D. decreasing the production of the other type of good.