Refer to the table above. The opportunity cost per dollar of value added in designing shoes by workers in Laborland is ________
A) $0.25 B) $0.50 C) $2 D) $4
B
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The U.S. economy is experiencing falling output, falling employment, falling incomes and rising unemployment. These conditions best describe a business cycle ________
A) peak B) expansion C) recession D) trend E) trough
The Lost Decade began in 1990 when Colombia announced that it lacked the international reserves it needed to pay the interest and principle due on its foreign debt
Indicate whether the statement is true or false
Figure 8.3 shows demands and costs for a monopolistically competitive firm. When the firm's demand curve shifts from D1 to D2 and to D3:
A. the demand for the firm's product is decreasing. B. the firm's average cost of production is increasing. C. the firm's marginal revenue curve also shifts to the left. D. All of these
Refer to the information provided in Figure 3.16 below to answer the question(s) that follow.
Figure 3.16Refer to Figure 3.16. When the economy moves from Point A to Point B, there has been
A. an increase in quantity demanded and an increase in quantity supplied. B. an increase in demand and an increase in supply. C. an increase in demand and an increase in quantity supplied. D. an increase in quantity demanded and an increase in supply.