Refer to Table 2-15. What is Jack's opportunity cost of mowing a lawn?
A) one-half of a garden cultivated B) two lawns mowed
C) two-thirds of a garden cultivated D) one and a half lawns mowed
C
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Compare the macroeconomic performances in the 1990s of the following countries under the following exchange-rate regimes: floating exchange rates, Mexico and Brazil; capital control, China and Malaysia; and currency boards, Estonia and Hong Kong;
dollarization, Argentina.
If the government increases the income tax rate:
A. disposable income decreases. B. disposable income increases. C. disposable income remains unaffected. D. total income increases.
The adult population in the town of Shelbyville is 150 thousand. If 100 thousand people are employed and 20 thousand are unemployed, then the labor force participation rate is approximately
a. 67%. b. 80%. c. 16%. d. 13%.
Which of the following involves using resources to produce the maximum amount of goods and services?
a. utilization b. underutilization c. efficiency d. overefficiency