Bella can produce either a combination of 60 silk roses and 80 silk leaves or a combination of 70 silk roses and 55 silk leaves. If she now produces 60 silk roses and 80 silk leaves, what is the opportunity cost of producing an additional 10 silk roses?
A) 2.5 silk leaves
B) 10 silk leaves
C) 25 silk leaves
D) 55 silk leaves
C
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Which of the following would cause a decrease in the supply of peanut butter?
A) a decrease in the price of peanut butter B) an increase in the technology used to produce peanut butter C) a decrease in the price of jelly (assuming that peanut butter and jelly are complements) D) an increase the price of peanuts
A monetary policy rule is when the monetary authority:
a. does not commit to future monetary actions. b. often produces a monetary surprise to households. c. commits to future monetary actions. d. always behaves in unpredictable ways.
Suppose an economy experience a 4% increase in each of the following variables: N, K, and H (human capital). Given this information, we know with certainty that
A) Y will increase by more than 4%. B) Y will increase by exactly 4%. C) Y will increase by less than 4%. D) Y will increase by less than 12% but by more than 4%. E) none of the above
Transfer payments are included in
A. net domestic product. B. gross domestic product. C. personal income. D. national income.