If the quantity of one good that must be forgone increases as successive units of another good are produced, then there is said to be increasing opportunity cost between the two goods
a. True
b. False
Indicate whether the statement is true or false
True
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During the presidential campaigns, the candidates from each party typically describe their plans to maintain or change federal taxes on personal and business income. Are these policy statements generally positive or normative?
A) Positive B) Normative C) Both positive and normative D) Neither positive or normative
Some argue that a nation should not depend too heavily on other countries for supplies of certain key products, special materials, or technologies that might have ______________ applications.
a. general b. scientific c. national security d. international
Other things the same, a decrease in the price level causes real wealth to
a. fall, interest rates to fall, and the dollar to appreciate. b. fall, interest rates to rise, and the dollar to depreciate. c. rise, interest rates to rise, and the dollar to appreciate. d. rise, interest rates to fall, and the dollar to depreciate.
Consider the cash/spot and futures corn market transactions above. What are gross gains disregarding broker commissions and storage costs?
A. 10 cents per bushel B. 20 cents per bushel C. 30 cents per bushel D. Loss of 20 cents per bushel