Refer to Table 5.1. What is Hector's opportunity cost of producing one tiara?
A) 1/5 of a bracelet
B) 1.5 bracelets
C) 4 bracelets
D) 5 bracelets
D
You might also like to view...
Explain three ways we can use macroeconomic analysis
What will be an ideal response?
A lender of last resort is a financial institution that is willing and able to lend to: a. individuals who have other debts outstanding
b. individuals who do not have a positive net worth. c. banks that are not members of the Federal Reserve System. d. fractional reserve system banks experiencing runs on their deposits. e. Federal Reserve System member banks experiencing runs on their deposits.
Geometrically, the average product
A. at any point is the slope of the total product curve at that point. B. is the slope of the line joining the origin to the specified point on the total product curve. C. is that point at which the total product curve exhibits diminishing returns. D. falls at low levels of input use and rises at high levels of input use.
The number of U.S. job losses certified by the U.S. Department of Labor as NAFTA-related was
A. 1,500,000. B. 500,000. C. 145 million. D. 100,000.