For nearly every year since 1970, the United States has:
A. imported more than it exported.
B. exported more than it imported.
C. imported about the same as it has exported.
D. held to very isolationist trade policy.
A. imported more than it exported.
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Suppose that your tuition to attend college is $14,000 per year and you spend $5,000 per year on room and board. If you were working full time, you could earn $26,000 per year. What is your opportunity cost of attending college?
A) $19,000 B) $31,000 C) $40,000 D) $45,000
Refer to the table shown.BotswanaZimbabweGoldNickelGoldNickel030009060200186012010036301800540Botswana's opportunity cost of producing nickel (in terms of gold) is:
A. 60. B. 3/5. C. 5/3. D. 100.
If supply is unchanged, a rightward shift in the demand curve for gourmet ice cream will result in:
a) An increase in equilibrium quantity and a lower equilibrium price. b) A decrease in equilibrium quantity and a higher equilibrium price. c) A decrease in equilibrium quantity and a lower equilibrium price. d) An increase in equilibrium quantity and a higher equilibrium price.
Refer to the information provided in Figure 3.9 below to answer the following question(s).
Figure 3.9Refer to Figure 3.9. Assume there are only two people in the market for coconuts: Sasha and Kyle. Along the ________, at a price of $10, quantity demanded would be 5.
A. demand curve for either Sasha or Kyle B. market demand curve C. demand curve for Kyle only D. demand curve for Sasha only