Refer to Table 10-2. If Keira maximizes her utility, how many units of each good should she buy?
A) 6 cups of soup and 2 sandwiches B) 1 cup of soup and 5 sandwiches
C) 4 cups of soup and 3.5 sandwiches D) 3 cups of soup and 4 sandwiches
D
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As an economy produces more of one of the goods on a bowed out production possibilities frontier, what happens to the opportunity cost of producing the good?
A) It remains constant. B) It decreases. C) It increases. D) It might increase, decrease, or remain constant depending on how much people value the additional units of the good. E) None of these depicts what happens to opportunity cost.
The table shows the distribution of human and non-human capital for two people, Sam and Janet
a) Looking just at tangible assets (non-human capital), by how many times does Janet's wealth exceed Sam's? b) Assume that both human and non-human capital earn a 10 percent annual interest rate. Calculate Sam's and Janet's total income. c) By how many times does Janet's total income exceed Sam's? d) Which comparison results in a more equal distribution? e) Which comparison gives a better indication of each person's economic condition?
Of the following countries, which had the highest level of GDP per capita in 2014?
A) the United States B) Italy C) France D) Japan
Explain how a better-educated population will also tend to be healthier, and vice versa, that a healthier population will tend to be better educated
What will be an ideal response?