On a production possibilities frontier, 500 pounds of apples and 1,200 pounds of bananas can be produced while at another point on the same frontier, 300 pounds of apples and 1,300 pounds of bananas can be produced
Between these points, what is the opportunity cost of producing a pound of apples?
A) 2 pounds of bananas
B) 5/12 of a pound of bananas
C) 0.5 of a pound of bananas
D) 2 pounds of apples
E) 100 pounds of bananas
C
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The American manufacturing system began to emerge in the years prior to the Civil War. Which of the following was not an important aspect of the system?
(a) Extensive or increased use of craftsmen (b) Mass production of goods in factories (c) The production of standardized goods (d) Extensive use of machinery and equipment
Three possibilities have probabilities 0.5, 0.3 and 0.2 and values $10, $20, and $30 respectively. The expected value is:
a. $15 b. $16 c. $17 d. $18
The level of Social Security benefits is adjusted each year based on the ________________ Price Index.
a. Consumer b. Production c. Personal d. Purchasing
To create a new company data file in QuickBooks, use the:
a. Company menu > New Company b. Company section of the Home page > New Company c. File menu > Open or Copy Company d. File menu > New Company