Refer to Table 9-11. Prior to trade, what was the opportunity cost to produce 1 clock in Belize?
A) 1/2 of a hat B) 2/3 of a hat C) 1.5 hats D) 2 hats
D
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In the Fable of the Bees, it was found that contrary to popular belief among economists, but consistent with the Coase Theorem
a. apple growers would pay bee keepers for pollination services. b. bee keepers would pay orchard owners for access to their flowering trees. c. apple growers and bee keepers would reimburse each other for increasing output. d. the transactions costs of negotiating prevented any agreements from being reached between orchard owners and bee keepers.
Online companies gather personal information about the customers who shop on their Web sites and some of those companies will use the data to estimate price elasticities of the customers
Doing this is a way that these companies might be able to charge a higher price for a product to those customers who have a ________ price elasticity of demand. A) low B) high C) negative D) unitary
Many banks in the U.S. failed in the 1930s, not because they were poorly managed, but because they could not survive the panicky withdrawal of funds by their depositors
a. True b. False Indicate whether the statement is true or false
At which interest rate is the present value of $80.25 one year from today equal to $75 today?
a. 4 percent b. 5 percent c. 6 percent d. 7 percent