Opportunity cost is the difference between the benefits and the costs of a choice
a. True
b. False
B
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Suppose the economy currently has an inflationary ga
A) decrease aggregate demand, decrease prices, and decrease real GDP. B) increase short-run aggregate supply, decrease prices and increase real GDP. C) increase short-run aggregate supply, decrease in prices and decrease in real GDP. D) decrease aggregate demand, decrease prices, and increase real GDP.
Physical resource
What will be an ideal response?
Professor Cowen suggests that gift-giving can create value for each of the following reasons EXCEPT:
A. gift-giving can lower search costs. B. some gifts are given for paternalistic reasons. C. gifts can signal our values or intentions. D. the cost of the gift for the recipient is zero.
Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
Suppose the town can purchase land for the park at a cost of $8 per acre. The optimal park size would be ________ acres.
A. 4 B. 6 C. 2 D. 8