Refer to the information provided in Figure 7.6 below to answer the question(s) that follow. 
Figure 7.6Refer to Figure 7.6. If the price of capital is $10 and the price of labor is $20, the optimal production technique is
A. A.
B. B.
C. C.
D. D.
Answer: A
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Refer to the scenario above. Jacob should submit a bid of ________
A) $500 B) $400 C) $300 D) $225
The Philippines and Vietnam have roughly the same size population. Suppose the GDP of the Philippines is $1,000 billion and the GDP of Vietnam is $10,000 billion. You should conclude
A) it is not possible to make a good comparison of the economic well being of a typical individual in the 2 countries without additional information. B) a typical person in Vietnam is 10 times as well off as the typical person in the Philippines. C) a typical person in Vietnam is more than 10 times as well off as the typical person in the Philippines. D) a typical person in Vietnam is less than 10 times as well off as the typical person in the Philippines.
Bank capital can best be described as:
A) funds contributed by shareholder purchasers of a bank's stock plus the accumulated retaining earnings B) the accumulated amount of reserves held by a bank C) the location of most of the major banks of a country D) another name for bank assets
Graphically, the optimum choice of a consumer is determined at: a. the point of intersection of the lowest indifference curve and the budget constraint. b. the point of intersection of the budget line and the vertical axis
c. the point where the highest indifference curve is tangent to the budget constraint. d. the point of intersection of the budget line and the horizontal axis.