Refer to Table 2-11. What is China's opportunity cost of producing one digital camera?
A) 0.04 pounds of wheat B) 4 pounds of wheat
C) 25 pounds of wheat D) 40 pounds of wheat
C
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Which of the following is not an advantage of starting a new business as a partnership?
A) The owners have complete control over the business. B) A partnership can easily attain additional funding. C) A partnership has few government rules and regulations to comply with. D) Business profits are only taxed once, not twice.
All points within the production possibilities frontier are
A) unattainable. B) efficient. C) inefficient. D) profitable.
A key tenet of the supply-side economic theory of the 1980s was that government tax cuts would increase after-tax wages, stimulating the incentive to seek higher wages through increased labor supply
Indicate whether the statement is true or false
Bandile gives $100 to his favorite charity. According to economists, why did Bandile mostly likely do this?
a. from disregard for his own self-interests b. for entirely non-personal motives c. to selfishly use the charity as a tax deduction d. to have the satisfaction of helping others