In Figure 35.1, what is the opportunity cost of DVD players in Japan?
A. 1/2 of a motorcycle per DVD player.
B. 2 motorcycles per DVD player.
C. 1/3 of a motorcycle per DVD player.
D. 1 motorcycle per DVD player.
Answer: B
Economics
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The aggregate production function shows the quantity and quality of resources used in production given the efficiency with which resources are utilized and the prevailing technology
Indicate whether the statement is true or false
Economics
The American Federation of Labor (AFL) was created
a. as an organization of highly autonomous craft unions b. to protect the growing number of economically powerless workers c. to promote the creation of industrial unions d. to give broad representation to workers with very different skills and occupations e. to represent less-skilled industrial workers
Economics