Refer to Table 2-14. What is Scotland's opportunity cost of producing one guitar?
A) 0.25 motorcycles B) 4 motorcycles C) 12 motorcycles D) 16 motorcycles
A
Economics
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What happened to the international gold standard during WWI?
A) It flourished, since no nation trusted the other nations' currencies. B) It was abandoned. C) It did not disappear but was weakened by a major decline in international trade. D) It was relegated to government control.
Economics
Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. The firm's ________ point is at a price of $6.
A. shut down B. profit maximizing C. break even D. loss maximizing
Economics