Last year, Casey grew fresh vegetables, which she sold at her local farmers market, but this year, Casey did not plant any vegetables and went to work at a bank instead. Which of the following best explains Casey's career change?
A. Casey's opportunity costs of gardening exceeded Casey's opportunity costs of working at the bank.
B. Casey's opportunity costs of working at the bank exceeded Casey's benefits from gardening.
C. Casey's opportunity costs of gardening exceeded Casey's benefits from working at the bank.
D. Casey's opportunity costs of working at the bank exceeded Casey's opportunity costs of gardening.
Answer: A
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During 1991, Argentina's monetary law had a currency board. Explain and give an example
What will be an ideal response?
In the early 1970s monetary growth was relatively stable yet unemployment and prices were quite unstable. This suggests that
A) policy activism is superior to policy rules. B) government spending must have been destabilizing. C) monetary rules will not iron out every short-run fluctuation resulting from shocks. D) the government was following a monetary rule.
For the economy as a whole: a. income must equal expenditures
b. expenditures exceed income because of taxes. c. income exceeds expenditures because of saving. d. expenditures exceed income because of the government budget deficit.
Suppose roses are currently selling for $20 per dozen, but the equilibrium price of roses is $30 per dozen. We would expect a
a. shortage to exist and the market price of roses to increase. b. shortage to exist and the market price of roses to decrease. c. surplus to exist and the market price of roses to increase. d. surplus to exist and the market price of roses to decrease.