Refer to Figure 2-6. If the economy is currently producing at point A, what is the opportunity cost of moving to point B?
A) 6 thousand hammers B) 30 thousand wrenches
C) 23 thousand hammers D) 8 thousand wrenches
A
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The figure above shows Freda's PPF. Freda currently produces 10 packets of fudge and no cookies. If Freda decides to produce 1 packet of cookies, her opportunity cost of the packet of cookies is ________ of fudge
A) 1 packet B) 1/2 packet C) 2 packets D) 0 packets
Which of the following is one of the convergence criteria that countries needed to satisfy to join the Eurozone?
A) 10 consecutive years in the ERM band without devaluation of its currency B) a government deficit of no more than 25% of GDP in the previous year C) total government debt of no more than 60% of GDP in the previous year D) an inflation rate of 0% in the previous 10 consecutive years
The stimulus plan adopted in 2009 by newly-elected President Obama consisted of
A. only tax cuts. B. only attempts to shore up Medicaid, welfare, and unemployment programs. C. only spending increases on newly-created federal programs. D. roughly equal tax cuts and spending increases, with additional spending to shore up existing federal programs.
The primary motivation for economic immigration is:
A. the prospect of paying lower prices for goods and services. B. to flee political oppression. C. the opportunity to increase earnings and standard of living. D. to reunite with family members.