If the wage rate were $200, how many workers would be hired?
A. 3
B. 4
C. 5
D. 6
A. 3
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Which statement is NOT true regarding emerging markets?
A) Emerging market financial institutions have generally proven to be weaker than those in industrialized countries. B) Emerging markets are the capital markets of poorer, developing countries that have liberalized their financial system to allow private asset trade with foreigners. C) Countries with emerging markets include Brazil, Mexico, and Thailand. D) Countries with emerging markets have been unable to liberalize their financial systems to allow private trade with foreigners. E) Emerging market financial institutions contributed to the financial crisis of 1997-1999.
If Bountiful Orchard grows $100,000 worth of peaches, sells $50,000 worth of peaches to consumers and uses the rest to make jam that is sold to consumers for $100,000, Bountiful Orchard's contribution to GDP is:
A. $50,000. B. $100,000. C. $200,000. D. $150,000.
Refer to Figure 3. For Ben, the opportunity cost of 1 pound of ice cream is
a. 1/14 pound of cones.
b. 1/2 pound of cones.
c. 2 pounds of cones.
d. 4 pound of cones.
Some economists advocate government intervention in a market economy when resource costs for a private producer ________ to society.
A. have no relevant cost B. do not reflect the full cost C. are greater than the full cost D. are equal to the full cost