Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars SoldTrucks SoldLarry105Joe99Ralph312 Based on last month's data, Joe's opportunity cost of selling a car is ________ than Ralph's, and Joe's opportunity cost of selling a car is ________ than Larry's.
A. greater; greater
B. less; less
C. less; greater
D. greater; less
Answer: C
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If an economy were experiencing a high rate of unemployment as the result of insufficient aggregate demand, a Keynesian economist would favor:
a. a reduction in taxes coupled with a reduction in government expenditures of equal size. b. an increase in government expenditures coupled with an increase in taxes of equal size. c. a reduction in taxes, without any offsetting reduction in government expenditures. d. maintenance of a balanced budget.
If total output is $1,000 and total labor-hours are 20, labor productivity is
A. $20. B. $50. C. $2,000. D. $20,000.
In the long run, real output can be less than, equal to, or greater than the economy's potential output.
a. true b. false
A corporation in which all the stock is owned by only a few individuals or companies and is not made available for purchase by the public.
What will be an ideal response?