Rayburn Reed is a highly talented photographer. He has chosen to specialize in photography because of all of the following except
A) for him, this is the most lucrative way to purchase the products that he wants to consume.
B) his photographs are highly esteemed by art lovers who are willing to pay very high prices.
C) he obviously has a comparative advantage in photography.
D) his opportunity cost of pursuing another career is very low.
D
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If a straight line passes through the point x = 12 and y = 4 and also through the point x = 4 and y = 8, the slope of this line is
A) seven tenths. B) negative 8 divided by 4. C) one -and one half. D) negative one half.
Relative to a simultaneous-move situation, the gain to firm R from being able to move first in the game in Scenario 13.14, would be
A) 40. B) 37. C) 32. D) 5. E) 3.
Suppose that inventory investment is $20 billion and (total) investment is $680 billion. What does purchases of newly produced capital goods equal?
A) $715 billion B) $785 billion C) $750 billion D) $35 billion E) There is not enough information to answer this question.
Which of the following occurs when an expansionary gap is closed in the long run by the action of firms?
What will be an ideal response?