Assume that Spain will specialize in either cars or TVs. What is their opportunity cost of producing one car?
8 TVs
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A wage rate that is adjusted for changes in the price level is known as the
A) nominal wage. B) minimum wage. C) functional wage. D) real wage.
Which of the following was NOT cited as contributing to unusual uncertainty having an adverse effect on aggregate supply?
A) the possibility that Congress may let the 2001, 2003 tax cuts to expire B) the Fed's limited use of monetary policy in fighting the recession C) the severity of the financial crisis D) concern that the Affordable Care Act would increase the cost of hiring workers
It is possible to compare utility levels across consumers by attaching a numerical measure to utility
Indicate whether the statement is true or false
An example of U.S. public investment in infrastructure would be:
A. a wastewater treatment system. B. an oil and gas pipeline. C. a manufacturing plant. D. a construction company.