Which of the following is most important if the living standards of people residing in a country are going to improve?
What will be an ideal response?
Growth of per capita GDP
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Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the table below.Hours inEastOrchardNumber ofApples PerHourHours inWestOrchardNumber ofApples PerHour140110232210325310420410If Frank spends 2 hours picking apples in the east orchard and 2 hours picking apples in the west orchard, how many apples in total will Frank be able to pick today?
A. 21 B. 92 C. 42 D. 84
At the end of World War II in 1945, many economists and business managers expected that the U.S. economy would enter a severe recession. At that time, Sears and Montgomery Ward were the two largest department store chains in the country
Sears CEO Robert Wood expected continuing prosperity and opened new stores. Montgomery Ward CEO Sewell Avery expected falling incomes and rising unemployment and closed a number of existing stores. The results of their actions were seen during the late 1940s, when A) Sears declared bankruptcy and was purchased by Montgomery Ward. B) Montgomery Ward weathered the economic downturn in better financial shape than Sears. C) Sears had to close many of the new stores it had opened following the end of the war. D) Sears rapidly gained market share at Montgomery Ward's expense.
In foreign exchange markets, the demand for dollars is determined: a. solely by the level of U.S. merchandise exports
b. solely by the level of U.S. merchandise imports. c. by the level of U.S. imports and the demand for foreign assets by U.S. citizens and the U.S. government. d. by the level of U.S. exports and the demand for U.S. assets by foreigners.
An "opportunity cost" may be described as:
a. the value of what must be gtiven up b. the opporrtunity foregone c. the value of the next best alternative d. the correct measure of cost e. all of these are correct