The opportunity cost concept takes into account:
A. only money prices.
B. neither money prices nor shadow prices.
C. both money and shadow prices.
D. only shadow prices.
Answer: C
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In the above figure, the shift in the demand curve from D to D2 can be the result of
A) an increase in the price of soda, a complement to pizza. B) a decrease in the supply of pizza that raises the price of pizza. C) an increase in income if pizza is a normal good. D) a change in quantity demanded. E) an increase in the price of a sub sandwich, a substitute for pizza.
According to the scenario above, in which of the following groups are all the people structurally unemployed?
A) Thorton B) Jung C) Thorton and Darrelo D) Darrelo and Thorton E) Rita, Armondo, and Chris
All economists agree that World War II (1941–45) was responsible for ending the Great Depression
Indicate whether the statement is true or false
Which of the following Fed actions would increase the level of total bank reserves?
a. buying securities from individuals or businesses b. selling securities to commercial banks c. reducing reserve requirements d. raising the discount rate