In terms of macroeconomic conditions, the 1930s were the "good old days."
a. True
b. False
Indicate whether the statement is true or false
False
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What are the major components of M1? What are the major components of M2? Describe each component
What will be an ideal response?
Isocost lines associated with ______ total cost lie ______ the origin.
A. lower; farther from B. higher; farther from C. higher; closer to D. sunk; closer to
Opportunity cost is
A) the combined value of all the alternatives not selected. B) the same thing as the money price of a good. C) the value of the next best alternative which was given up. D) based on the intrinsic value of the good itself.
Suppose that the market for coffee is in equilibrium at a price of $9.50 per pound and a monthly quantity of 20 million pounds. News of a drought in Brazil arrives so that people know that the supply of coffee months from now will be sharply reduced
What, if anything, will happen in the coffee market now? Explain. What will be an ideal response?