Figure 15.3 depicts a one-mile stretch of beach with 100 swimmers distributed evenly along the beach. There are two ice cream vendors - 1 and 2 - on the beach selling an identical product. Assume that each swimmer buys only one ice cream cone and that they prefer to buy ice cream from the nearer vendor. If vendor 1 is at B while vendor 2 is at D, vendor 1 will sell ________ ice cream cones while vendor 2 sells ________ ice cream cones.
A. 40; 60
B. 45; 55
C. 55; 45
D. 60; 40
Answer: D
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A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
Use the following table to answer the question below.Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Jake should specialize in the production of which good?
A. corn B. green beans C. both D. neither
Traditionally, men have been more willing to accept jobs that
a. required continuous employment in the labor force. b. require relocation if necessary to get a higher paying job. c. have long working hours. d. All of the above are correct.
The difference between the economy's potential output and its actual output relative to its potential output at a point in time is called the:
A. trade deficit. B. budget deficit. C. output gap. D. full-employment rate.