What is the opportunity cost of moving from point A to point B?
Hypothetical Production Schedule for Two-Product Economy
5 milk shakes
You might also like to view...
As is shown by the example of college dropout Bill Gates, more education does generally not pay off
a. True b. False
Sometimes a change in the real effective multilateral exchange rate has the opposite result from what one would expect. One explanation may be:
a. that buying habits are very strong and firms and consumers continue their behavior despite large changes in prices of imports. b. that price changes do not bring about immediate responses in import or export volume because of contracts, or firms' difficulty in changing suppliers quickly. c. that the theory is fundamentally flawed and does not predict well. d. that there are other factors we are not considering that affect the trade balance.
The demand for land is derived from __________________.
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Figure 28.7 below to answer the question(s) that follow.
Figure 28.7Refer to Figure 28.7. Suppose the economy is at Point C. What can possibly move the economy to Point D?
A. a leftward shift in the AD curve B. a leftward shift in the AS curve C. a rightward shift in the AD curve D. a rightward shift in the AS curve