Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. In Mexico, the opportunity cost of 1 bushel of bananas is
A. 1/2 bushel of oranges.
B. 1 bushel of oranges.
C. 2 bushels of oranges.
D. 5 bushels of oranges.
Answer: B
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Refer to Table 2-14. Ireland has a comparative advantage in the production of
A) both products. B) motorcycles. C) guitars. D) neither product.
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.
For which of the following income-maintenance programs is aggregate spending the greatest?
A. Medicare. B. Social Security. C. Unemployment compensation. D. TANF.
Suppose that the initial supply of loanable funds curve is SLF1. In the figure above, an increase in the real interest rate leads to
i. a shift in the supply of loanable funds curve from SLF1 to SLF2. ii. a shift in the supply of loanable funds curve from SLF1 to SLF3. iii. a movement along the supply of loanable funds curve SLF1. iv. no change whatever. A) i and iii B) iv only C) ii only D) i only E) iii only