The table above shows the output per day of two? gardeners, George and Jack. They can either devote their time to mowing lawns or cultivating gardens. What is? Jack's opportunity cost of mowing a? lawn?
A. half a garden cultivated.
B. two lawns mowed.
C. two-thirds of a garden cultivated.
D. one and a half lawns mowed.
Answer: C. two-thirds of a garden cultivated.
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Tomas wants the city to convert a portion of an existing public park to a covered bus stop so it is more convenient to catch a bus to work each day. Michelle wants the city to expand the park so her kids have an even larger place to play outside
In this situation, Tomas's and Michelle's actions A) reflect natural and morally neutral preferences. B) are easy to separate into right and wrong. C) are all about greed and take no one else into consideration. D) have no possible way of resulting in compromise.
In the United States, approximately what percentage of the total income is earned by the highest 5 percent of the families?
a. 10 percent. b. 20 percent. c. 30 percent. d. 40 percent.
Which of the following professionals is likely to receive higher compensatory wages?
a. Financial accountants b. Software engineers c. Sales workers d. Share traders e. Tailors
Both country 1 and country 2 are located on their respective production possibilities frontiers (PPFs) for consumer goods and capital goods, but country 1 produces twice the output of both types of goods compared to country 2. It follows that
A) country 1's PPF lies further to the right than country 2's PPF. B) country 1 has a smaller population than country 2. C) country 1 has a bigger population than country 2. D) country 1 is efficient and country 2 is inefficient. E) none of the above