Situation 37-2 Dan and Ann live in the same community and both can participate in two activities, producing and stealing. Refer to Situation 37-2. Ann spends 8 hours of each day producing and 1 hour of each day stealing. It is probably the case for her that
A) at some point the MB/MC ratio for producing fell below the MB/MC ratio for stealing.
B) her MB/MC ratio for producing was always greater than her MB/MC ratio for stealing.
C) her MB/MC ratio for producing never changed, no matter how much or how little she produced.
D) her MB/MC ratio for stealing never changed, no matter how much or how little she stole.
E) There is not enough information to answer the question.
A
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According to Robert E. Hall and Charles Jones, successful economic performance requires
A) a favorable infrastructure of rules and institutions. B) minimizing corruption and criminality. C) the use of one of the eight major international languages. D) A and B. E) all of the above.
Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for $80,000. The retailer, in turn, brings in $155,000 from selling the bulbs directly to final customers. What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year?
What will be an ideal response?