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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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

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