Assume that Sweden will specialize in either boats or cars. What is their opportunity cost of producing two boats?
3 cars
You might also like to view...
Using the above table, the marginal utility for the sixth glass of water is
a. -1 utils b. -3 utils c. -5 utils d. -7 utils e. none of the above
Mikki decides to work five hours the night before her economics exam. She earns an extra $75, but her exam score is 10 points lower than it would have been had she stayed home and studied. Her opportunity cost is the:
a. five hours she worked. b. $75 she earned. c. 10 points she lost on her exam. d. time she could have spent watching television. e. guilt she feels about neglecting her economics studies.
One of the main conclusions of Keynes in The General Theory of Employment, Interest, and Money is that the economy
a. will usually be at full employment. b. will not automatically gravitate to full employment. c. will automatically move quickly toward full employment without inflation. d. is usually on the verge of a major depression or hyperinflation.
________ implementing export promotion policies is Japan.
A. One of the least successful countries in B. The only developed country that has been successful in C. One of the most successful countries in D. The only developed country that has banned