If the U.S. government decides to increase military spending, one opportunity cost will be lower spending on education
a. True
b. False
Indicate whether the statement is true or false
True
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Before the Industrial Revolution, per capita income in the U.S. was about:
a. $4,000 b. $2,000 c. $1,000 d. $0
Which of the following will occur as the price of a good decreases?
A) The demand curve for that good will shift to the left. B) The demand curve for that good will shift to the right. C) The quantity demanded for that good will increase. D) Demand for that good will increase.
Suppose that a typical German factory can produce 20 cameras or 1 computer in an hour, and that a typical American factory can produce 10 cameras or one computer in an hour
Germany wishes to purchase computers from the United States in exchange for cameras. What is the maximum number of cameras per computer that Germany would be willing to pay the United States? A) 10 cameras per computer B) 20 cameras per computer C) 1 camera per computer D) 2 cameras per computer
Profit is the return to entrepreneurship.
Answer the following statement true (T) or false (F)