Which economic question does the decision to produce butter instead of guns answer?
a. What to produce?
b. How to produce?
c. For whom to produce?
d. Who has a comparative advantage in gun production?
e. Who has an absolute advantage in butter production?
A
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How do markets respond to price ceilings and price floors? Do attempts to repeal the laws of supply and demand meet their objectives?
What will be an ideal response?
Which of the following would lead to a leftward movement along the supply curve of euros?
a. An increase in the U.S. interest rate relative to the European interest rate b. An increase in the dollars per euro exchange rate c. A decrease in Europe's GDP d. A decrease in the dollar price of the euros e. A decrease in the U.S. price level relative to the European price level.
What are the Euler Equations?
A. another name for the objective function B. another game for the first order conditions, defining optimal choices C. equations relating the optimal choice of interest rates to other prices D. both A and B, but not C
A person is considered unemployed if she is
What will be an ideal response?