Refer to Table 2-12. What is Honduras's opportunity cost of producing one canoe?
A) 1/5 of a sailboat B) 1.5 sailboats C) 5 sailboats D) 6 sailboats
A
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In an oligopoly
A) there are only a few firms. B) there is no product differentiation. C) there is free entry and exit. D) firms' decisions are unrelated to each other.
Which is NOT one of the potential benefits of labor unions?
A) Unionism raises social efficiency. B) Unions appear to reduce wage inequality. C) Unions may reduce a company's profits. D) Unions may have contributed to safer working conditions.
The target zone model of exchange rates requires adjustment for
A) imperfect policy credibility and intra-marginal adjustments. B) imperfect policy credibility. C) speculative pressure and intra-marginal adjustments. D) speculative pressure.
Cooperation that continues as long as the players continue to cooperate is
A) a zero-sum game. B) a negative-sum game. C) tit-for-tat strategic behavior. D) opportunistic behavior.