When you work to support your lifestyle, you are making a tradeoff
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The benefit to the firm of hiring another worker is
A) the nominal wage. B) the price level. C) the real wage. D) the extra output produced by the worker. E) measured as the height of the production function.
_____ is the decline in value over time of capital equipment
a. Bracket creep b. Inflation c. Depreciation d. Diminishing productivity
A per-unit government subsidy to producers of a good tends to
A) reduce the supply of the good. B) increase the supply of the good. C) shift the supply curve to the left. D) not have any effect on the good's supply.
Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. For trade to be mutually beneficial for both countries, the terms of trade will be such that 1 computer will exchange for
A. Zero soybeans. B. More than 3 tons of soybeans but less than 5. C. Less than 1/5 of a ton of soybeans. D. More than 1/5 of a ton of soybeans but less than 1/3.