The slope of a production possibilities curve is ________ because ________.
A. positive; producing more of one good requires producing less of the other
B. positive; producing more of one good requires producing more of the other
C. negative; producing less of one good requires producing less of the other
D. negative; producing more of one good requires producing less of the other
Answer: D
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Last year, 1,000 cases of cough syrup were sold at $10; this year, 1,200 cases were sold at $12 . The most probable interpretation of these data is that the
a. supply and demand curves are shifting to the right. b. supply and demand curves are shifting to the left. c. supply curve has shifted to the left, with no change in demand. d. demand curve has shifted to the right, with no change in supply.
Providing training for unemployed individuals is primarily intended to reduce
a. frictional unemployment. b. seasonal unemployment. c. structural unemployment. d. cyclical unemployment.
Referring to Figure 18.3, the effect of a decrease in Japanese interest rates is represented by a movement from point:
A. b to a. B. a to b. C. b to c. D. a to d.
Jane is willing to pay $4 for the first cup of coffee a day, $2.50 for the second cup, and $1 for the third cup, after which she won't buy any coffee. The price of a cup of coffee is $2.40. How many cups of coffee per day will Jane buy?
A) 1 B) 2 C) 3 D) None