George Herman (Babe) Ruth was a superb baseball player, both an excellent pitcher and a record-breaking batter
Other members of the New York Yankee team, who were not as competent pitchers as Ruth, nonetheless had a comparative advantage over Ruth in pitching because A) Ruth was such a competent batter.
B) the owners of the Yankees were more interested in monetary profits than in winning baseball games.
C) the price system failed to provide adequate information and incentive.
D) they were allowed to pitch more often and practice increased their productivity.
E) too many players preferred batting to pitching.
A
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Refer to Figure 27-1. An increase in taxes would be depicted as a movement from ________, using the static AD-AS model in the figure above
A) A to B B) E to B C) B to C D) C to D E) B to A
Consider an economy with only two goods: bread and wine. In 1982, the typical family bought 4 loaves of bread at 50¢ per loaf and 2 bottles of wine for $9 per bottle. In Year X, bread cost 75¢ per loaf and wine cost $10 per bottle. The CPI for Year X (using a 1982 base year) is:
a. 100. b. 115. c. 126. d. 130.