Tom's opportunity cost of mowing a lawn is 2 loads of laundry. Jen's opportunity cost of mowing a lawn is 1.5 loads of laundry. What is the range of prices for mowing a lawn at which Tom and Jen could both benefit from trade?
Less than 2 loads of laundry but greater than 1.5 loads of laundry.
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Which of the following increases the quantity of money demanded?
A) a fall in the nominal interest rate B) a rise in the nominal interest rate C) a rise in the inflation rate D) a rise in the real interest rate E) an increase in real GDP
The brain drain refers to the effects of Dutch Disease when the infection spreads to other countries
Indicate whether the statement is true or false
The rise in agricultural discontent in the late 19th century can be best explained by
a. the rise of railroad cartels in the Midwest. b. the rise of global market forces not easily observed by the farmers. c. a decline in the value of agricultural exports from 1870 to 1900. d. predatory lending by banks, resulting in increased farm repossessions.
Being unemployed in economic terms means that you are:
a. out of work and actively looking for a job. b. out of paid work and not actively looking for a job. c. out of work and not actively looking for a job. d. out of paid work and unable to work.