According to the National Bureau of Economic Research, the United States has experienced ________ recessions since 1950

Almost all economists agree that local and state governments should

a. eliminate subsidies to professional sports franchises. b. increase subsidies to professional sports franchises. c. copy economic policy from Washington, D.C. d. prevent companies from outsourcing work.

Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206Suppose Smith and Jones begin by producing 0 computers and 220 calculators per hour. If they wish to produce 2 computers and 200 calculators per hour efficiently, then Smith should spend ________, and Jones should spend ________.

A. 12 minutes making computers and 48 minutes making calculators; 1 hour making calculators B. 48 minutes making computers and 12 minutes making calculators; 1 hour making calculators C. 1 hour making calculators; 10 minutes making computers and 50 minutes making calculators D. 30 minutes making each; 30 minutes making each