Which of the following would increase the total amount of trade in the world?
A) trade diversion
B) trade deflection
C) trade retention
D) rules of origin
B
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Refer to Table 2-15. What is George's opportunity cost of cultivating a garden?
A) one-half of a garden cultivated B) two lawns mowed C) two-thirds of a garden cultivated D) one and a half lawns mowed
The market interest rate
a. typically increases from one year to the next b. represents the demand for investment c. represents the opportunity cost of funds d. represents the supply of loanable funds e. is not affected by the demand for investment
Labor productivity is measured as:
a. the share of wages in national income. b. the change in labor to capital ratio. c. real output per labor hour. d. the change in output from hiring an additional unit of labor. e. the growth in the quantity of labor.
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
The maximum number of skirts that Becky can make in a day is represented by point:
A. V B. U C. T D. Z