The WTO replaced the GATT in
A. 1900.
B. 1945.
C. 1995.
D. 1960.
Answer: C
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You have two options for how to spend the afternoon. You can either go see a movie with your roommate or work as a tutor for the Math Department. From experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. If you spend the afternoon working as a math tutor, you will get paid $45. On a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. What is your opportunity cost of seeing a movie this afternoon?
A. $57 B. $8 C. $12 D. $22
One way to achieve faster growth in GDP per person is to increase the
A) number of women working in the home rather than in the workforce. B) growth rate of the quantity of money. C) growth rate of human capital. D) growth rate of the population. E) limits on international trade in order to keep more of total spending on domestically produced goods.
Refer to the scenario above. If they are the only bidders in the auction, Bill will continue to bid as long as bidding is below ________
A) $420 B) $210 C) $500 D) $625
What are the two key features of perfectly competitive markets in the Classical Model?
What will be an ideal response?