The table above lists six points on the production possibilities frontier for grain and cars. What is the opportunity cost of producing the 26th car?
A) 2 tons of grain per car
B) 4 tons of grain per car
C) 0.25 tons of grain per car
D) 0.5 tons of grain per car
D
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The lowest percentage of the U.S. population in poverty is found when using which measurement of household resources?
A) private income only B) private income plus cash benefits C) private income with cash and in-kind benefits D) private income with Social Security payments subtracted
Travel websites such as Travelocity tend to offer reservation services for multiple travel modes. This is because
A) the firms have contractual obligations to offer reservations for airlines and railroads, for example. B) the firms have statutory obligations to offer reservations for airlines and railroads, for example. C) once the firm has the reservation technology for airlines, there are economies of scale in offering the same service for railroads. D) once the firm has the reservation technology for airlines, there are economies of scope in offering the same service for railroads.