The federal government began to measure poverty in the
a. 1960s.
b. 1970s.
c. 1980s.
d. 1990s.
a. 1960s.
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Who is most likely to benefit when the dollar appreciates against the euro?
A. U.S. buyers of foreign goods B. Foreign buyers of U.S. goods C. U.S. buyers of U.S. goods D. Foreign buyers of foreign goods
Here are the costs of going to college: tuition $5,000; books $200; housing $1,000; food $1,000; lost income from work $10,000. Studying and work are equally desirable in your mind. Suppose you must live on your own anyway. What is the cost of going to school?
A. $7,200 B. $16,200 C. $17,200 D. $15,200
If the best surgeon in town is also the best at cleaning swimming pools, then according to the theory of comparative advantage, this person should
A) pursue the activity he enjoys more. B) specialize in cleaning swimming pools because it is more labor-intensive. C) split his time evenly between being a surgeon and cleaning swimming pools. D) specialize in being a surgeon because its opportunity cost is lower.
If you know that with 8 units of output, average fixed cost is $12.50 and average variable cost is $81.25, then total cost at this output level is:
A. $93.75 B. $97.78 C. $750 D. $880