In a given year, the inflation rate drops by 2 percentage points and annual output drops by 8 percent. In this case, what is the sacrifice ratio?
a. 2
b. 4
c. 6
d. 8
b. 4
You might also like to view...
According to this Application, in exchange for the federal government absolving their debts, the states were willing to give up their ability to raise revenue from collecting
A) property taxes. B) income taxes. C) import tariffs. D) all of the above.
Refer to Scenario 9.1. If Monty places ________ sheep on the commons, Sheb is better off placing ________ on the commons
A) 4; 4 B) 5; 4 C) 5; 5 D) Both A and B are correct.
The table above gives information on the marginal perceived private benefit and marginal social benefit associated with vaccination against varicella (chicken pox)
If the marginal cost of a varicella vaccination is $10, to achieve an efficient quantity of vaccinations, the government could provide a subsidy of A) $4 per vaccination. B) $3 per vaccination. C) $2 per vaccination D) $1 per vaccination.
If a nation has a(n) _____ in the production of an item, it can produce _____ of the item with the same quantity of resources than can other nations.
A. absolute advantage; more B. mutual gain; the same amount C. special advantage; more D. comparative advantage; more