Refer to Exhibit 2-8. For Maria, the opportunity cost of producing one unit of good Y is ___________ unit(s) of good X.
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1.00
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Which of the following situations can make the Fed’s monetary policy less effective?
a. Both political parties support the fiscal policy and monetary policy. b. The fiscal policy requires less money to implement than the monetary policy. c. The fiscal policy has more popular support than the monetary policy. d. The fiscal policy and monetary policy have different goals.
In economic decision making, what is a net benefit?
a. the fair-market value of both the money costs and the non-money costs b. the financial value gained from comparative advantages and absolute advantages c. the projected difference between marginal thinking and opportunity costs d. the difference between expected marginal benefits and expected marginal costs
The Federal Reserve influences the level of interest rates in the short run by changing the:
A. demand for money through open market operations. B. demand for money through changes in reserve requirements. C. supply of money through open market operations. D. supply of money through changes in stock market operations.
If an industry realizes significant economies of scale relative to the size of the market, it is most efficient for there to be a single firm in the industry.
Answer the following statement true (T) or false (F)