In the above figure, the farmer faces a trade-off between beans and wheat equal to
A) one-to-one.
B) three-to-one.
C) one-to-two.
D) one-to-four.
C
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Assume a demand deposit multiplier of 2 and a government expenditure of $10 million. If the Treasury borrows that much from the banking system, bank reserves will
A) rise by $2 million. B) rise by $10 million. C) rise by $20 million. D) remain unchanged.
The U.S. government has accumulated a net national debt of almost 60% of GDP. Compared to other countries, this is:
a. smaller than that of many fiscally healthy countries b. larger than that of many fiscally healthy countries c. about the same as that of troubled debtor nations d. larger than that of troubled debtor nations
A Major League Baseball player signs a contract that pays $27 million over 5 years. The $27 million is the contract's ________ value.
A. real B. implicit C. external D. nominal
The individual firm's demand curve facing a monopoly is
A. the marginal cost curve above minimum average variable cost. B. also the market demand curve. C. nonexistent. D. the summation of all perfectly competitive firms' demand curves.