. .
. v ient.
c.
growth can only be achieved through an advancement in technology.
d.
the opportunity cost of producing one more car is approximately 10 bushels of corn.
8. Which of the following is a positive, as opposed to a normative, statement" b
a.
The US Department of Justice should allow a merger between AT&T and T-Mobile because it would have little effect on consumers.
b.
Antitrust laws should be used to prevent further concentration in the wireless telephone service market.
c.
The US Department of Justice sued AT&T to block its merger with T-Mobile.
d.
The wireless telephone service market is too highly concentrated.
9. Which of the following famous people did not major in economics in college" b
a.
Donald Trump
b.
Natalie Portman
c.
John Elway
d.
Mick Jagger
10. Which of the following statements is correct about environmental economists" d
a.
They view economics as a framework for natural resource allocation.
b.
They work at government agencies as well as universities and advocacy groups.
c.
They use economic arguments and systems to persuade panies to clean up pollution and conserve natural resources.
d.
All of the above are correct.
11. In the ordered pair (20, 100), 20 is the a
a.
x-coordinate.
b.
y-coordin
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