The figure above shows a production possibilities frontier. In the figure, the economy faces a tradeoff when ________ cell phones and ________ DVDs. are produced
A) 2 million; 9 million
B) 4.5 million; no
C) 3 million; 8 million
D) 5 million; 15 million
E) 3 million; 9 million
E
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One concern regarding the North American Free Trade Agreement (NAFTA) was that it would lead:
A. unskilled workers in the United States to lose their jobs. B. wages in Mexico to rise. C. the total value of goods and services produced by the United States to fall. D. highly skilled workers in the United States to lose their jobs.
According to the Application, one factor which was responsible for roughly one-third of hybrid vehicles purchased in 2007 was an increase in the price of gasoline
The increase in sales due to higher gasoline prices describes the economic concept of A) marginal thinking. B) rational self interest. C) using assumptions to simplify. D) ceteris paribus.
Assume that firms A and B have the same minimum efficient scale of operation and, at current production levels, both firms are incurring the same average costs of production. However, firm A's output is 5 times larger than firm B's output
How is this possible?
According to the BLS approximately 8.4 million workers are union members in the private sector and about 7.3 million workers are union members in the public sector.
a. true b. false