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Kaitlyn and Larissa have formed a dog bathing and grooming business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the third dog in a day is bathing ________ dog(s).
A. 3
B. 4
C. 5
D. 18
Answer: B
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The table above shows the output per day of two? gardeners, George and Jack. They can either devote their time to mowing lawns or cultivating gardens. What is? Jack's opportunity cost of mowing a? lawn?
A. half a garden cultivated.
B. two lawns mowed.
C. two-thirds of a garden cultivated.
D. one and a half lawns mowed.
Current projections predict the number of U.S. workers per retiree in 2030 to be
A. 6.1. B. 3.3. C. 2.2. D. 16.
The Social Security system is financed by
A) a tax on individual retirement accounts. B) a payroll tax paid only by employers. C) a payroll tax paid by both employers and employees. D) a tax on luxury goods.
Which of the following is a barrier to economic growth in many developing nations?
A. the lack of natural resources B. the lack of economic freedom C. the low level of restrictions in the labor market D. the shortage of labor