The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A
B. recessionary; C
C. recessionary; B
D. expansionary; A
Answer: D
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Goods X and Y are complementary goods. A decrease in price of good X has occurred. In the market for good Y, this will lead to
A) an increase in price and a decrease in quantity. B) an increase in price and an increase in quantity. C) a decrease in price and a decrease in quantity. D) a decrease in price and an increase in quantity.
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 18.3. Nigel's opportunity cost of producing one bandana is:
A. 1/4 of a hair pin. B. 2/5 of a hair pin. C. 2.5 hair pins. D. 4 hair pins.
Explain how IMF conditionality has changed over time
What will be an ideal response?
Which of the following is the most likely to be a fixed factor of production at a pizza restaurant?
A. The amount of electricity. B. The amount of pizza dough. C. The number of waiters. D. The size of the seating area.