Use the following figure to answer the question below.
Dave's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/2
B. 4
C. 2
D. 1
Answer: C
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The higher the dollar's exchange rate, the ________ the expected profit from holding dollars and so ________ dollars are supplied
A) larger; more B) larger; fewer C) smaller; more D) smaller; fewer
Assume Roger's income to spend on books and movie tickets is $48, and his budget constraint is represented by line B. What would cause his budget constraint to move to A?
A. Roger gets a raise at work.
B. Roger gets unlimited coupons for $2 off the price of a movie ticket.
C. The price of movie tickets increases to $8.
D. None of these changes would cause Roger's budget constraint to move from B to A.
The balance sheet for a commercial bank shows the bank's:
a. required reserves as assets and excess reserves as liabilities. b. loans as assets and required reserves as liabilities. c. loans as assets and checkable deposits as liabilities. d. checkable deposits as assets and loans as liabilities. e. excess reserves as assets and required reserves as liabilities.
If the money price of a resource such as oil falls, then the
A) LAS curve shifts rightward. B) LAS curve shifts leftward. C) SAS curve shifts leftward. D) SAS curve shifts rightward.