Assume that a consumer can spend $20 on two goods–pens and pencils. If the price of one pen is $5 and the price of one pencil is $2, which of the following combinations of the two goods represents a point on the consumers budget constraint?

Refer to Table 2-11. What is China's opportunity cost of producing one digital camera?

A) 0.04 pounds of wheat B) 4 pounds of wheat C) 25 pounds of wheat D) 40 pounds of wheat

In the simple accelerator model, if expected output declines,

A) gross investment becomes negative. B) net investment becomes negative. C) both gross investment and net investment become negative. D) the desired stock of capital will become negative.