For society as a whole, producing more of one good or service has an opportunity cost because
a. human wants are limited and resources are unlimited
b. both human wants and resources are unlimited
c. resources are limited; human wants are irrelevant
d. human wants are unlimited and resources are limited
e. both human wants and resources are limited
D
Economics
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When the value of the dollar changes from £0.75 to £0.5, then the British pound has ________ and the U.S. dollar has ________
A) appreciated; appreciated B) depreciated; appreciated C) appreciated; depreciated D) depreciated; depreciated
Economics
Refer to the table, in which the values for columns (2) through (5) are in acres. If the relevant columns are (1), (2), and (3), land rent will be:
A. $100 per acre.
B. $200 per acre.
C. $300 per acre.
D. $400 per acre.
Economics