The city of Austin can buy roads or light rail. If 10 miles of roads cost $1 million and 2 miles of light rail cost $10 million, what is the city's opportunity cost of 1000 miles of roads?
a. $100 million
b. 2 miles of light rail
c. 200 miles of light rail
d. $50 million
e. $1,000 million
a
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Use the graph above to answer the following question. Suppose that Jim is in casino in Las Vegas and wins a $60,000 jackpot
The staff tells him that he can keep it or play one more game that will allow him to increase his jackpot earnings by an additional $20,000 . The game involves simply flipping a coin. If it turns up heads he earns the extra $20,000 . However, if it turns up tails he loses $20,000 of his $60,000 jackpot. Given the utility function above what is he likely to do and why?
Which of the following is one of the BRIC nations?
A) Indonesia B) Bangledesh C) Chile D) Belgium E) Russia
Explain the effect of self-selection on compensating wage differential.
What will be an ideal response?
In an open economy, ______ than in a closed economy.
a. expansionary policy will have a greater influence on aggregate demand b. contractionary policy will have a greater influence on aggregate demand c. both contractionary and expansionary policy will have a greater influence on aggregate demand d. both contractionary and expansionary policy will have a smaller influence on aggregate demand