Refer to Figure 18.1. The opportunity cost of hang gliders in Canada is
A) 1/4 of a bicycle. B) 1/2 of a bicycle. C) 2 bicycles. D) 4 bicycles.
C
Economics
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Suppose the marginal propensity to consume is 0.75 . If government purchases increase by $100 billion and the extra expenditure is financed with a net tax of $100 billion, by how much will output change?
a. -$400 billion b. $100 billion c. $400 billion d. $0 e. -$100 billion
Economics
Economic policies often have effects that their architects did not intend or anticipate
a. True b. False Indicate whether the statement is true or false
Economics