If Bonnie can produce either 10 hats or 20 scarves in a month, and Phil can produce either 5 hats or 10 scarves in a month then
A) Bonnie is more efficient at producing hats, compared to Phil.
B) Bonnie is more efficient at producing scarves, compared to Phil.
C) both A and B above are true.
D) none of the above is true.
D
Economics
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Assume Joe is only willing to pay $5 for a Ferrari sports car
A) Joe is not considered part of the demand for Ferraris. B) Joe won't be sold a Ferrari. C) Joe is not considered rational. D) Joe's willingness to pay is not indicative of how much he values the Ferrari.
Economics
The television network newscaster reports that the national inflation rate the past year equaled 4 percent. This report would be of particular interest to a ____
a. microeconomist. b. normative economist. c. macroeconomist. d. Ceteris paribus. e. social science economist.
Economics