Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one kite is painting
A) 1/12 of a snowboard. B) 1/8 of a snowboard.
C) 1/3 of a snowboard. D) 3 snowboards.
B
Economics
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A one-tail test of significance would be used to determine whether
A) demand for a good is price elastic. B) two goods are substitutes for each other in supply. C) two goods are unrelated to each other in demand. D) supply of a good is price inelastic.
Economics
If the national debt is owed entirely to U.S. citizens,
a. paying off the debt will necessarily stimulate growth. b. future interest payments on the debt are not a burden to the nation as a whole. c. future economic growth will necessarily be slowed. d. the debt constitutes a burden to these citizens.
Economics