If the slopes of the ________ involving corn and wheat in the United States and Canada are equal, specialization does not benefit either country.
A. production possibility frontiers
B. marginal revenue curves
C. demand curves
D. supply curves
Answer: A
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Refer to the scenario above. Maria should choose to:
A) drive, as it will save her $120. B) travel by train, because it is quicker. C) drive, as it will give her a real saving of $150. D) travel by train, as it will save her $30 in travel time.
How many years did it take the stock market to recover to the value it had been in September 1929? A. 3 years
A. 3 years B. 10 years C. 25 years D. 54 years
Inefficient allocation of resources occurs when
a. no one can be made better off without having someone else give up something. b. it is possible to make some people better off without making others worse off. c. society is operating at a point high on the production possibilities frontier. d. society is operating at a point low on the production possibilities frontier.
A group of workers who join together to improve their terms of employment is called:
a. a worker's cooperative. b. an economic group. c. a corporate team. d. a labor union.