The two types of financial systems tend to treat
A) small firms alike.
B) large firms alike.
C) both small and large firms alike.
D) neither small nor large firms alike.
A
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Being on the production possibilities frontier implies that increasing the production of one good or service can only be accomplished by decreasing the quantity produced of another good or service.
Answer the following statement true (T) or false (F)
Gabriel operates a ranch in Idaho where he raises cattle and grows potatoes. The figure above illustrates his production possibilities frontier. What is Gabriel's opportunity cost of raising another 100 cows?
A) 5.0 tons of potatoes B) 3.0 tons of potatoes C) 1.25 tons of potatoes D) 100 cows E) 1.0 ton of potatoes
Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year. Which of the following statements about opportunity cost is CORRECT?
A) The opportunity cost of a ton of pecans is 2 tons of pears per ton of pecans for Missouri and 1/4 ton of pears per ton of pecans for Washington. B) The opportunity cost of a ton of pears is 2 tons of pecans per ton of pears for Missouri and 1/4 ton of pecans per ton of pears for Washington. C) The opportunity cost of a ton of pecans is 1/2 ton of pears per ton of pecans for Missouri and 4 tons of pears per ton of pecans for Washington. D) Both answers B and C are correct.
Why is regulation necessary to achieve “universal service“?
What will be an ideal response?