Refer to Table 2-20. What is Thailand's opportunity cost of producing one pound of rice?
A) 60 wristwatches B) 20 wristwatches
C) 5 wristwatches D) 0.05 units of a wristwatch
D
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Economic analysis is useful is resolving all of the following types of issues EXCEPT:
A. positive B. monetary policy C. normative D. fiscal policy
Use the following diagrams for the U.S. economy to answer the next question.Which of the diagrams best portrays stagflation?
A. Graph A B. Graph B C. Graph C D. Graph D
Some property tax limitations, such as California's Proposition 13, only do significant reassessment of property taxes when houses are sold. This creates _____
a. an incentive to rent b. inequity between homeowners of comparable houses c. a disincentive to move d. b and c e. all of the above
Total revenue is
A) price × quantity. B) change in price × change in quantity. C) change in price × quantity. D) price × change in quantity.