Most monetarists advocate an activist monetary stabilization policy.
Answer the following statement true (T) or false (F)
False
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Exhibit 15-3 Potatoes and wheat output (tons per day) CountryPotatoes Wheat United States4 2 Ireland3 1 If each nation in Exhibit 15-3 specializes in producing the good for which it has a comparative advantage, then:
A. Ireland would produce neither potatoes or wheat. B. the United States would produce both potatoes and wheat. C. the United States would produce potatoes. D. Ireland would produce potatoes.
With an increase in income, we can predict that a consumer will choose a new market basket
a. on a lower indifference curve. b. on the same indifference curve but the new budget line. c. on a higher indifference curve that passes through the new budget line. d. on a higher indifference curve that is tangent to the new budget line
Jose is rational if he
A) does not intentionally make decisions that would leave him worse off. B) never makes a mistake in his life. C) only responds to rewards that involve money. D) always uses a model or mathematical formula to help him make a decision.
An example of a final service is:
A. a tire to replace your flat. B. a used car. C. getting the oil changed in your car. D. Tires purchased by Ford to put on their new Explorers.