In the figure above, if the quantity of yogurt produced increases from 2 gallons an hour to 3 gallons an hour, the opportunity cost of a gallon of yogurt in terms of ice cream is
A) half a gallon.
B) 1 gallon.
C) 3 gallons.
D) 4 gallons.
B
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On January 1, Derek had CD recording devices valued at $30,000. During the year, the value of Derek's devices depreciated by $20,000. He spent $30,000 on new devices
Derek's net investment was ________ and at the end of the year Derek had capital valued at ________. A) $20,000; $60,000 B) $10,000; $40,000 C) $10,000; $60,000 D) $30,000; $40,000 E) $40,000; $70,000
Between 1830 and 1860, the number of miles of railroad in operation increased by
a. roughly 100 percent. b. roughly 500 percent. c. roughly 750 percent. d. over 1000 percent.
Which of the following is an in-kind transfer payment?
A. Medicaid. B. Social Security. C. unemployment compensation. D. Temporary Assistance to Needy Families.
What do economists mean by "reverse engineering"?
A. A modification of old technology B. Taking a product apart in order to copy its design C. A decision to adopt an old technology rather than a new one D. Modification of existing machines so that they can be run by handicapped persons