Given the information in the table above, Foreign's opportunity cost of cloth is
A) 0.5.
B) 2.0.
C) 6.0.
D) 1.5.
E) 3.0.
B
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Suppose prices are quoted in dollars and transactions are conducted in pesos. The peso serves as a
A) medium of exchange. B) store of value. C) unit of account. D) all of the above.
If the bank of Waterloo receives a $10,000 deposit and the reserve requirement is 10 percent, how much can the bank loan out? (Assume that before the deposit this bank is just meeting its legal reserve requirement.)
A) $1,000 B) $9,000 C) $10,000 D) $11,000
Suppose the Federal Reserve wants to increase the money supply. Which combination of actions would lead to the appropriate effect?
a. Increase the discount rate, decrease the reserve ratio, sell bonds. b. Increase the discount rate, decrease the reserve ratio, buy bonds. c. Decrease the discount rate, decrease the reserve ratio, buy bonds. d. Decrease the discount rate, increase the reserve ratio, buy bonds. e. Decrease the discount rate, decrease the reserve ratio, sell bonds.
Figure 10-8
For the perfectly competitive firm in Figure 10-8, what is the long-run price and quantity?
a.
P = 4, Q = 150
b.
P = 9, Q = 200
c.
P = 10, Q = 200
d.
P = 5, Q = 150