Refer to Figure 2-2. What is the opportunity cost of one dozen orchids?
A) 0.4 dozen roses B) 2.5 dozen roses C) 7.25 dozen roses D) 16 dozen roses
B
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What does a balance of trade deficit imply?
a. exports of goods and services exceed imports of goods and services b. imports of goods and services exceed exports of goods and services c. investment income received from abroad exceeds investment income paid to foreigners d. investment income paid to foreigners exceeds investment income received from abroad e. investment by foreigners exceeds domestic investment in other countries
Proponents of the view that the higher rate of productivity growth since 1996 is part of a long-run trend argue it is a result of
a. a continuing increase in the use of computers and other kinds of information technology. b. employers forcing more output from workers, who have become victims of new technologies. c. the shrinkage of the labor force, so that output per worker is rising. d. the rise of employment in the highly productive manufacturing sector.