Assume that Kelly's various possible activities are mutually exclusive. The opportunity cost from choosing one activity equals the
a. summed value of all her alternative activities
b. summed value of all her alternative activities minus the value of the chosen activity
c. value of the next most valuable alternative activity
d. value of the next most valuable alternative activity minus the value of the chosen activity
e. summed value of all her alternative activities minus the value of the next most valuable alternative activity
C
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Assume that the supply curve for a commodity shifts to the left and the demand curve shifts to the right, and the shift in demand is greater than the shift in supply
Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by: A) a lower price and quantity. B) a higher price and quantity. C) a higher price and a lower quantity. D) a lower price and a higher quantity.
A time-series graph reveals whether there is a ________ which represents ________
A) trend in a variable; a general tendency for the variable to rise or fall B) relationship between two variables; a cross-section graph C) trend in a variable; unrelated variables D) relationship between two variables; a trend in a variable
What are the components of the trilemma that is encountered when a country chooses its monetary policy and what is the meaning of the term?
What will be an ideal response?
Refer to the figure below. If the Federal Reserve wants to set the nominal interest rate at 1%, it must conduct open market ________ to set the money supply at ________. 
A. sales; 900 B. purchases; 300 C. purchases; 900 D. sales; 100