The economy can produce 0X and 15Y, 10X and 10Y, 20X and 5Y, or 30X and 0Y. It follows that opportunity cost of 1X is ___Y.
Fill in the blank(s) with the appropriate word(s).
0.5
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Your school decides to increase the intake of new students next year
To make its decision, what economic concepts would it have considered? Would the school have used the "economic way of thinking" in reaching its decision? Would the school have made its decision on the margin?
There is clear evidence that the Civil War (1861–1865) aided industrialization in the U.S
Indicate whether the statement is true or false
The Laffer Curve demonstrates that _____
a. at some level of tax rates, tax revenues decline b. there is no relationship between tax rates and tax revenue c. there is no relationship between tax rates and labor supply d. at some level of tax rates, labor supply declines
The Great Society program was designed to lift people out of poverty during the
A. 1930s. B. 1940s. C. 1950s. D. 1960s.