A paper mill discovers that burning old tires is a cheaper way to get power rather than using coal, and they adopt the new technology. Which of the following will likely happen in the market for paper?
A. The supply for paper will remain constant.
B. The demand for paper will increase.
C. The supply of paper will increase.
D. The supply for paper will decrease.
Answer: C
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The table above represents five points on the production possibility frontier for the small country of Baca, which produces only rugs (measured in thousands) and wheat (measured in thousands of bushels): If the economy is currently at point A,
what is the opportunity cost of producing an additional 10,000 bushels of wheat? If the economy is currently at point B, what is the opportunity cost of producing an additional 10,000 bushels of wheat? What if the economy is currently at point D?
Substantial co-payments are typically not required as a part of the health care system in
A) the United States and Japan. B) Japan and Canada. C) Canada and the United Kingdom. D) Japan and the United Kingdom.
With a flexible exchange rate, a nation can choose an inflation rate independent of the rest of the world
Indicate whether the statement is true or false
The growth rate of potential GDP depends on
a. the rate of technical progress. b. the growth rate of the capital stock. c. the growth rate of the labor force. d. all of the above.