Abe can catch 10 pounds of fish an hour or pick 10 pounds of fruit. Zeb can catch 30 pounds of fish an hour or pick 20 pounds of fruit
The opportunity cost of fish is ________ for Abe than for Zeb, and the opportunity cost of fruit is ________ for Abe than for Zeb. A) higher, lower
B) lower, higher
C) higher, higher
D) lower, lower
A
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Which of the following statements about the supply of dollars in the foreign exchange market is true?
A) It is equal to the money supply. B) It represents the demand for U.S. goods and financial assets by firms and households outside the United States. C) It represents the supply of U.S. goods and financial assets by firms and households within the United States. D) It is determined by the willingness of households and firms that own dollars to exchange them for foreign currency.
At the college level there is complete school choice
a. True b. False
The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
A. recessionary phase. B. expansionary phase. C. contractionary phase. D. cyclical phase.
A firm that generates pollution is illustrated in Figure 9.7. If the government would like to induce this firm to abate, or reduce, its pollution by A1 tons, it will impose a pollution tax equal to:
A. P1. B. P1 minus P3. C. P2. D. P2 minus P3.