Refer to the scenario above. The opportunity cost of producing one pound of apples in Zeta is:
A) 0.67 pounds of oranges. B) 2 pounds of oranges.
C) 1.5 pounds of oranges. D) 3 pounds of oranges.
D
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Inflation expectations in the United States generally
A) fell from 1971 to 1976, rose from 1977 to 1985, then fell from 1985 to 1995, and have been stable since then. B) fell from 1971 to 1985, then rose from 1985 to 2000, and have been stable since then. C) rose from 1971 to 1987, then fell from 1987 to 2006. D) rose from 1971 to 1982, then fell from 1982 to 2000, and have been stable since then.
Which of the following will cause the demand curve for cable TV services to shift to the left?
A) a rise in the price of cable TV services B) a decrease in average incomes of cable TV subscribers C) an increase in population D) the creation of several hit TV series
Fiscal policies are different from monetary policies because:
a. Fiscal policies affect only aggregate supply and monetary policies affect only aggregate demand. b. Fiscal policies affect only aggregate demand and monetary policies affect only aggregate supply. c. Fiscal policies are enacted by central banks and monetary policies are enacted by Congress or Parliament. d. Fiscal policies are mainly concerned with changing government spending and taxation, and monetary policies are mainly concerned with changing the money supply.
Describe the shape of the monopolistically competitive firm's demand curve