Sarah earns $40,000 per year working for a large corporation. She is thinking of quitting this job to work full time in her own business. She will invest her savings of $50,000 (which currently has an annual 10% rate of return) into the business
Her annual opportunity cost of this new business is A) $0.
B) $40,000.
C) $45,000.
D) $90,000.
C
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Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. An increase in the number of cattle ranchers will cause a movement from
A. Point B to Point A. B. D2 to D1. C. S2 to S1. D. Point G to Point F.
Refer to the information provided in Table 20.3 below to answer the question(s) that follow. Table 20.3
Refer to Table 20.3. If the exchange rate is $1 = 2 euros, then
A. the United States will import raspberries and Belgium will import chocolate. B. Belgium will import both raspberries and chocolate. C. the United States will import both raspberries and chocolate. D. Belgium will import chocolate.
After accounting for taxes and various welfare programs, economist Timothy Smeeding estimates that the average European country's anti-poverty programs reduce their poverty by 60% while
A. U.S. anti-poverty programs reduce poverty by more than 83%. B. U.S. anti-poverty programs actually increase poverty by 6%. C. U.S. anti-poverty programs have virtually eliminated poverty among sociologists. D. U.S. anti-poverty programs reduce poverty by only 26%.
In perfect competition, restrictions on entry into an industry
a. do not exist. b. apply to labor but not to capital. c. apply to capital but not to labor.