With trade, the slope of the Consumption Possibilities Curve (CPC) is equal to
A) the world price of the good on the horizontal axis.
B) the world price of the good on the vertical axis.
C) the opportunity cost of the good on the horizontal axis.
D) the opportunity cost of the good on the vertical axis.
A
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If there is a positive relationship between two variables,
A) the graph of the relationship will be downward sloping. B) the graph of the relationship will be upward sloping. C) the slope of the line graphing the relationship will be negative. D) Both answers A and C are correct. E) Both answers B and C are correct.
Mark is an 86-year-old watchmaker who works ten hours a week to supplement his retirement income. In determining the U.S. unemployment rate, Mark would be considered
a. employed b. unemployed c. an involuntary part-time worker d. not in the labor force e. a discouraged worker