In the above figure, what is the opportunity cost of one bushel of soybeans?

A. 2 bushels of corn
B. 1 bushel of corn
C. 0.5 bushels of corn
D. unable to determine


Answer: C

Economics

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At the point where actual inflation is equal to expected inflation,

A) the short-run Phillips curve intersects the long-run Phillips curve. B) the short-run Phillips curve is the same as the long-run Phillips curve. C) the unemployment rate is zero. D) there is no short-run Phillips curve, as this situation only occurs in the long run.

Economics

Savings:

What will be an ideal response?

Economics

Refer to the above figure. Line EBD is called

A) the saving function. B) the consumption function. C) the 45-degree line. D) aggregate demand.

Economics

Expected utility is the utility that arises from expected wealth

Indicate whether the statement is true or false

Economics