According to the above table, which assumes that opportunity costs of producing goods X and Y are constant, which of the following statements is TRUE?
A. Holly will be willing to produce only good X and trade units of that good to Sherry as long as she receives less than 2.5 units of good Y in exchange.
B. Holly will be willing to produce only good Y and trade units of that good to Sherry as long as she receives less than 0.4 unit of good X in exchange.
C. Sherry will be willing to produce only good Y and trade units of that good to Holly as long has she receives less than 2 units of good X from her in exchange.
D. Sherry will be willing to produce only good X and trade units of that good to Holly as long as she receives more than 0.5 units of good Y from her in exchange.
Answer: D
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A. Lower rates of incarceration B. Shorter effective sentences C. CompStat usage D. The increase in the number of police
Consider the accompanying figure representing the labor market below. Suppose the government passes a minimum wage requiring employers to pay at least $8.00 per hour.
After the imposition of the minimum wage, employment will equal ________ person-hours per day.
A. 8,000 B. 4,000 C. 2,000 D. 6,000
Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. A movement from Point A to Point D can be caused by
A. a decrease in nominal income. B. an increase in nominal income. C. an increase in the interest rate. D. a decrease in the interest rate.