Refer to Table 9.1. Use the rule of thumb to determine in which quarter Gigantica first entered a recession during the years 2010-2012
A) 2010 Q4.
B) 2011 Q2.
C) 2011 Q4
D) Gigantica did not enter a recession from the years 2010-2012.
C
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Carmelita can perform either a combination of 35 manicures and 70 pedicures or a combination of 50 manicures and 45 pedicures. If she now performs 35 manicures and 70 pedicures, what is the opportunity cost of performing an additional 15 manicures?
A) 5 pedicures B) 20 pedicures C) 25 pedicures D) 45 pedicures
Refer to the above figure. Suppose E is the original equilibrium. Japanese residents have increased their demand for U.S. goods. This will lead to
A) a depreciation of the yen and an increase in the quantity of yens sold per week. B) a depreciation of the yen and a decrease in the quantity of yens sold per week. C) an appreciation of the yen and an increase in the quantity of yens sold per week. D) an appreciation of the yen and a decrease in the quantity of yens sold per week.
The shape of a firm's expansion path depends upon
a. the price of the labor input. b. the price of the capital input. c. the shape of the firm's production function. d. all of these factors.
In a free market economy,
A. problems with externalities can never be solved. B. public goods will be efficiently provided by the private sector. C. detrimental externalities are rare. D. externalities can be solved by policy makers using market methods.