Refer to Table 2-6. What is James's opportunity cost of making a wagon?
A) 3/4 of a wagon B) 1/2 of a wagon C) 2 tricycles D) 1/2 of a tricycle
C
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Payments by the government to the public for which the government receives no current goods or services in return are called:
A. transfer payments. B. net taxes. C. public saving. D. capital losses.
Which federal agency publishes the United States' unemployment figures?
A) The Bureau of Labor Statistics B) Health and Human Services C) the Senate Committee on Labor Relations D) the Federal Reserve
In a perfectly competitive market the long-run demand and supply curves are Q = 12 - P and Q = 5P respectively. Producer surplus in this market equals
A) 0. B) 5. C) 10. D) It cannot be determined without more information.
Amusement Park / Cola Tie-in The Six Flags Over Texas amusement part in the middle of the Dallas-Fort Worth Metroplex has a tie-in marketing campaign with Coca-Cola during the summer. In local grocery stores, some Coke cans offer $5 off admission to the park. Why does Six Flags limit these cans so that none are sold further than 20 miles from the park?