Refer to Exhibit 2-8. For Maria, the opportunity cost of producing one unit of good X is ___________ unit(s) of good Y.
 ANSWER 9.png)
1.00
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Which of the following is not a measure of how close a nation is to full employment?
a. Capacity utilization index. b. Unemployment rate. c. Employment rate. d. Net export position of the nation. e. All the above.
An economy recently reported nominal GDP of 3 trillion euro and a GDP deflator of 200 . What was real GDP?
a. 1.5 trillion euro, and real GDP is a better gauge of economic activity than nominal GDP. b. 1.5 trillion euro, but nominal GDP is a better gauge of economic activity than real GDP. c. 6 trillion euro, and real GDP is a better gauge of economic activity than nominal GDP. d. 6 trillion euro, but nominal GDP is a better gauge of economic activity than real GDP.
In the long run, the price charged by the monopolistically competitive firm attempting to maximize profits:
A. must be less than ATC. B. must be more than ATC. C. may be either equal to ATC, less than ATC, or more than ATC. D. will be equal to ATC.
Refer to the information provided in Figure 33.2 below to answer the question(s) that follow.
Figure 33.2Refer to Figure 33.2. England has an absolute advantage in producing
A. trucks. B. neither cars nor trucks. C. both cars and trucks. D. cars.