Companies are never justified in not installing all possible safety devices in their products when the omission of those safety devices could result in the loss of life to the users of the products
Indicate whether the statement is true or false
FALSE
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In the classical model, the aggregate supply curve is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.
The price of cotton clothing falls. As a result,
A) the quantity demanded of cotton clothing increases. B) the demand for cotton clothing increases. C) the quantity demanded of cotton clothing decreases. D) the demand for cotton clothing decreases. E) both the demand for cotton clothing increases and the quantity demanded of cotton clothing increases.
Draw a production possibilities frontier for an economy, with the axes labeled "military goods" and "peace goods." Indicate the region that is attainable and the region that is not. Explain the shape of the curve-what assumptions did you make in drawing it?
Suppose that your tuition to attend college is $24,000 per year and you spend $8,000 per year on room and board. If you were working full time, you could earn $30,000 per year. What is your opportunity cost of attending college for one year?
A. $32,000 B. $38,000 C. $54,000 D. $62,000