Refer to the given data. After specialization, Alpha will produce:
A. 60 tons of steel and Omega will produce 45 tons of wheat.
B. 20 tons of steel and Omega will produce 60 tons of wheat.
C. 60 tons of steel and Omega will produce 60 tons of wheat.
D. 30 tons of steel and Omega will produce 30 tons of wheat.
C. 60 tons of steel and Omega will produce 60 tons of wheat.
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If the existence of alternative opportunities makes people become less willing to work in poultry processing plants, then the real wage of unskilled workers in poultry processing plants is predicted to ________ and the employment of unskilled workers in poultry processing plants is predicted to ________.
A. increase; not change B. decrease; decrease C. increase; decrease D. increase; increase
If the Fed buys government securities, then
A) the quantity of money is not changed, just its composition. B) new bank reserves are created. C) the quantity of money decreases. D) bank reserves are destroyed. E) banks' excess reserves decrease.
When two goods are perfect substitutes, their indifference curves are straight lines
Indicate whether the statement is true or false
Who is responsible for U.S. monetary policy?
What will be an ideal response?