The most desired goods and services that are given up in order to obtain something else is the:
A. Comparative advantage.
B. Absolute advantage.
C. Opportunity cost.
D. Advantage cost.
C. Opportunity cost.
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Because people are more health conscious today than ever before, the demand for French fries has steadily fallen, causing the wage rate
a. and employment of workers in the French fries labor market to fall b. and employment of workers in the French fries labor market to rise c. to rise and employment of workers in the French fries labor market to rise d. to fall and employment of workers in the French fries labor market to rise e. to fall because both the labor demand and supply curves to shift to the right
The Bureau of Labor Statistics' U-2 measure of joblessness includes job losers and job leavers
a. True b. False Indicate whether the statement is true or false
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
With a nominal interest rate of 5% per year, the present discounted value of $100 to be received in 10 years is
A) $50.00. B) $61.39. C) $95.24. D) $150.00. E) $163.89.