If the opportunity cost of producing cheese is higher in Greece than in Italy,
a. Greece should specialize in producing cheese
b. Italy should specialize in producing cheese
c. both Greece and Italy should produce cheese but Italy should still export cheese to Greece
d. Greece gives up fewer goods to produce cheese than Italy does
e. both Greece and Italy should produce cheese but Greece should still export cheese to Italy
B
Economics
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Imputed rental income is considered taxable income to the homeowner under current tax law
a. True b. False
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Jim Smith would like to work, but has not looked for work in the past four weeks because he does not believe any jobs are available. In the official employment statistics, Jim is classified as:
A. underemployed. B. unemployed. C. employed. D. out of the labor force.
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