Refer to Figure 2-14. What is the opportunity cost of producing 1 snow cone in Iceland?
A) 2/3 of a popsicle B) 3/4 of a popsicle C) 1 1/2 popsicles D) 180 popsicles
A
Economics
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An individual will never buy complete insurance if:
a. he or she is risk averse. b. insurance premiums are unfair. c. he or she is a risk taker. d. insurance premiums are fair.
Economics
A rise in the average productivity of labor
a. always reflects technical progress. b. reflects technical progress if other input usage hasn't changed. c. reflects technical progress only if labor input hasn't changed. d. reflects technical progress only if the quantity of output is increased.
Economics