The opportunity cost of producing one keg of beer in Italy is
A. 3/2 pizzas.
B. 12 pizzas.
C. 4 pizzas.
D. 1/12 pizzas.
A. 3/2 pizzas.
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Expenditures on education equal about _____ of state and local government financial outlays
a. one quarter b. one third c. one half d. two thirds
In which of the following cases did the government break up a monopoly?
A. Staples/Office Depot B. Interstate Bakeries and Continental Bakery C. Xidex D. AT&T
You are given the following information about the economy: the nominal interest rate = 8%; the real rate of interest = 6%. The inflation premium is
A. 14%. B. 2%. C. 8%. D. 6%.
When the actual real GDP exceeds the natural real GDP as in Figure 1-2 above, we expect to find that unemployment is
A) high and inflation is high. B) low and inflation is high. C) low and inflation is low. D) high and inflation is low.