George Bernard Shaw stated, “Economy is the art of making the most of life.” Which of the following is the most accurate paraphrase of this quotation?
a. Economy is about earning enough money.
b. Economy is about making enough relaxation time.
c. Economy is about living for today.
d. Economy is about making the best choices.
d. Economy is about making the best choices.
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Bob and Bill can make 16 toys each if they devote 8 working hours in a day. Further, Bob can repair 4 cars and Bill can repair 2 cars, if they devote 8 working hours in a day. What is the opportunity cost of repairing one car to Bob?
a. 10 toys b. 8 toys c. 16 toys d. 12 toys e. 4 toys
A fixed exchange rate regime enhances the power of a country's central bank
Indicate whether the statement is true or false
Prices tend to increase when there is a situation of shortage in a market
a. True b. False Indicate whether the statement is true or false
NAFTA has greatly improved cooperation between the U.S. and Mexico in the regulation of
A. undocumented Mexican immigrant workers in the U.S. B. Mexican banks operating in the U.S. C. travel by U.S. tourists to Mexican beaches during Spring Break. D. pollution created by maquiladoras operating in Mexico along the U.S. border.