The opportunity cost of leisure is impossible to measure because we cannot measure leisure time in dollars
a. True
b. False
Indicate whether the statement is true or false
False
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In the Keynesian model, a $1 billion increase in autonomous consumption leads to ________ in short-run equilibrium output.
A. a $1 billion decrease B. a $1 billion increase C. no change D. a greater than $1 billion increase
Consider a production possibility frontier with jeans on the vertical axis and shoes on the horizontal axis. As a country moves along the frontier closer to the vertical axis,
A) the opportunity cost of producing jeans decreases. B) inefficient production occurs. C) the opportunity cost of producing jeans increases. D) there are fewer tradeoffs. E) the opportunity cost of producing shoes increases.
How does political corruption differ from bureaucratic corruption?
What will be an ideal response?
Assuming the free flow of capital across borders, which of the following statements is most correct?
A. A central bank cannot have both a fixed exchange rate and an independent inflation policy. B. The central banks of most industrialized countries focus on fixed exchange rates. C. While most central banks of industrialized countries favor fixing exchange rates, their primary concern is on domestic inflation. D. A central bank can have both a fixed exchange rate and an independent inflation policy.