Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant, Ziva helps people organize their houses. Due to the popularity of her home-organization services, Farmer Ziva has more clients requesting her services than she has time to help if she maintains her farming business. Farmer Ziva charges $25 an hour for her
home-organization services. One spring day, Ziva spends 10 hours in her fields planting $130 worth of seeds on her farm. She expects that the seeds she planted will yield $300 worth of lettuce. Ziva's accountant would calculate the total cost for the day of farming to equal
a. $25.
b. $130.
c. $300.
d. $380.
b
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During the last two centuries, the average rate of growth of GDP per capita in the leading industrialized countries has averaged about _________ per year.
A. 2% B. 12% C. 22% D. 32%
The Principle of Increasing Opportunity Costs states that:
A. opportunity costs increase when too little is produced. B. when increasing production, resources with the lowest opportunity costs should be used first. C. when increasing production, resources with the lowest opportunity costs should be used last. D. productive people do the hardest tasks first.
Cattle served as money, first for the Romans, then for the Greeks
Indicate whether the statement is true or false
In 1980, the U.S. economy had an inflation rate of
a. about 1 percent and an unemployment rate of about 7 percent. b. less than 4 percent and an unemployment rate of less than 6 percent. c. less than 7 percent and an unemployment rate of about 9 percent. d. more than 9 percent and an unemployment rate of about 7 percent.