The "guns versus butter" dilemma that all nations confront is that
A. An increase in national defense implies more sacrifices of civilian goods and services.
B. Guns and butter can be produced using the same resources at the same time.
C. An increase in national defense is possible only if we produce more butter.
D. All of the choices are correct.
Answer: A
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The largest source of revenue for the federal government of the United States is from
A) tariffs collected on imported goods. B) property taxes imposed on private property. C) individual income taxes. D) sales taxes on items purchased for consumption.
Exhibit 36-1 Bond FaceValueof Bond Price ofthe Bond Annual CouponPayment A $1,000 $850 $25 B $1,000 $950 $41 C $1,000 $1,100 $52 D $1,000 $1,100 $32 E $1,000 $1,000 $50 Refer to Exhibit 36-1. The yield on bond E is approximately
A. 37.5 percent. B. 0.38 percent. C. 0.45 percent. D. 5.0 percent.
An employer faces a minimum wage control where it cannot pay its workers any less than $10.25 an hour. The employer knows that the workers value the jobs and are willing to work even at much less. The employer decides to offer them the minimum wage but forces them to buy their uniforms from the employer. This is an example of
a. Tying b. Bundling c. Exclusion d. Fraud
Why is the labor market called a matching market?