Refer to Table 2-9. What is Serena's opportunity cost of making a bracelet?
A) 2 necklaces B) 3/4 of a bracelet C) 1/2 of a necklace D) 1/2 of a bracelet
A
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Bill loses his job as a loan officer when the bank he works for is bought up by a larger financial institution. Bill has the skills necessary to find a new job, so as Bill searches for work he is best considered an example of
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) a discouraged worker.
Expenditures on human resources comprise about ¬¬¬¬_____ of federal expenditures
a. half b. one-third c. one-fourth d. two-thirds
An ideal voting system must not have:
A. a person who has the power to single-handedly enact his or her own preferences. B. a person who can convince everyone to vote for his or her preferences, and not their own. C. a one-dimensional issue being voted on. D. transitivity of preferences
Refer to the graph shown. If the price were at the market equilibrium price, the total surplus would be the combination of the areas:
A. A, B, and E. B. A through F. C. A through D. D. E and F.