The development of a new energy source that could be used to produce or transport any good would be a source of
A. concentrated growth.
B. generalized growth.
C. import competing growth.
D. specialized growth.
Answer: B
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As we move along a bowed-out production possibility frontier, producing more tacos and less pizza, the opportunity cost of a pizza ________
A) increases B) remains the same C) decreases D) increases and then decreases
If the government imposed a price ceiling on gasoline above this good's current market clearing price, there would be
A) a shortage of gasoline. at the ceiling price. B) a surplus of gasoline at the ceiling price. C) an increase in the price of gasoline. D) no change in the price of gasoline.
For Antonio, the income effect of an interest-rate increase is stronger than the substitution effect. In response to a higher interest rate, will Antonio save more or will he save less?
If inflation in the United States is higher than in Japan, what will happen to the exchange rate between the U.S. dollar and the Japanese yen?
What will be an ideal response?