Refer to the given tables. The domestic opportunity cost of one unit of X in Alpha is:
Answer the question on the basis of the following production possibilities tables for countries Alpha and Beta:
A. 2 units of Y.
B. 4 units of Y.
C. 1 unit of Y.
D. 3 units of Y.
B. 4 units of Y.
You might also like to view...
Which of the following is characteristic of a perfectly competitive firm's demand curve?
A. Its elasticity coefficient is 1 at all levels of output. B. Average revenue is less than price. C. It's the same as the market demand curve. D. Price and marginal revenue are equal at all levels of output.
_____occurs when the burden of a tax statutorily placed on one party is borne by another party
a. Tax shifting b. Tax evasion c. Tax avoidance d. Tax amnesty
In response to the financial crisis which followed the housing bubble collapse, policy-makers feared stimulating demand would cause:
A. high inflation despite low economic growth and high unemployment. B. high inflation despite high economic growth and low unemployment. C. low economic growth despite low inflation and low unemployment. D. high unemployment despite low inflation and low economic growth.
Which of the following observations concerning phases of a business cycle is incorrect? a. The maximum amount of unemployment occurs exactly at the trough. b. The expansion phase is measured from the trough to the peak
c. The trough is the point in time when output stops declining. d. The contraction phase is also called recession.