Refer to Table 2-14. What is Ireland's opportunity cost of producing one guitar?
A) 0.2 motorcycles B) 5 motorcycles C) 8 motorcycles D) 32 motorcycles
A
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When the short-run aggregate supply curve is steep, then for a given increase in aggregate demand: a. the increase in real GDP will be relatively small and the increase in the price level will be relatively large. b. the increase in real GDP will be relatively large and the increase in the price level will be relatively small. c. the increase in both real GDP and the price level will be large
d. the increase in both real GDP and the price level will be small. e. the decrease in real GDP will be larger than the decrease in the price level.
The foreign exchange rate affects agriculture because
A) A weaker dollar makes depresses the export demand for U.S farm commodities. B) A stronger dollar enhances the export demand for U.S. farm commodities. C) A weaker dollar makes imports of inputs used by U.S. farmers. D) None of the above.
When countries try to ban child labor,
A) most children start to attend school. B) family poverty decreases. C) child labor often goes underground, with children working in the informal economy, family enterprises and remote areas. D) GDP increases.
Refer to the information provided in Figure 7.1 below to answer the following question(s). 
Figure 7.1Refer to Figure 7.1. This corn producer produces 100 bushels of corn and sells each bushel at $5. The cost of producing each bushel is $2. This corn producer's total revenue is ________ and profit is ________.
A. $200; $300 B. $300; $200 C. $500; $200 D. $500; $300