Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Larry's opportunity cost of selling a truck is selling:
A. 2 cars.
B. 1 car.
C. 10 cars.
D. 1/2 of a car.
Answer: A
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If the number of potential workers in an economy increases while the size of the labor force remains unchanged, ________
A) the labor force participation rate will fall B) the labor force participation rate will remain unaffected C) the labor force participation rate will increase D) the natural rate of unemployment will increase
Social Security is the second-largest government redistribution program
a. True b. False
Which statement is true?
A. The marginal cost curve intersects both the average variable cost curve and the average total cost curve at their minimum points. B. The marginal cost curve intersects neither the average variable cost curve nor the average total cost curve at their minimum points. C. The marginal cost curve intersects the average variable cost curve at its minimum point, but it does not intersect the average total cost curve at its minimum point. D. The marginal cost curve intersects the average total cost curve at its minimum point, but it does not intersect the average variable cost curve at its minimum point.
The principle of horizontal equity is satisfied when _____
a. individuals receiving the same benefits end up paying the same in taxes b. the public interest is being met c. all individuals pay the same tax d. individuals with an equal ability to pay end up paying the same in taxes