In the above figure, the opportunity cost of moving from point A to point C is
A. 50 guitars.
B. 50 ukuleles.
C. 0 guitars.
D. 25 guitars.
Answer: D
You might also like to view...
Labor is available at a wage of $10. The last worker hired by Cal’s Corn Farm added 20 ears of corn, which Cal has priced at four ears for $1. What advice would you give Cal?
What will be an ideal response?
If a country has a balance of payments deficit and wishes to maintain the fixed value of its currency, it will generally
A. sell its own currency for foreign currencies. B. buy its own currency with foreign reserves. C. decrease taxes to increase domestic disposable income. D. increase the money supply to keep interest rates down.
When the actual unemployment rate is greater than the natural rate of unemployment, the inflation rate
A. tends to increase. B. tends to decrease. C. falls to zero. D. remains unchanged.
Liability rules are laws that require party A to compensate party B for damages imposed.
Answer the following statement true (T) or false (F)