Refer to Table 2-4. What is the opportunity cost to Picnicland of increasing the production of hotdogs from 450 to 900?
a. 150 burgers
b. 225 burgers
c. 300 burgers
d. 450 burgers
b. 225 burgers
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In the aggregate expenditure model, ________ has both an autonomous component and an induced component
A) planned investment spending B) government spending C) consumption spending D) net export spending
When firms in an industry produce differentiated products,
a. long-run economic profit will always be zero b. short-run economic profit will always be positive c. the demand curves facing firms will always be perfectly elastic d. the demand curves facing firms will always be downward-sloping e. new firms will always have an incentive to enter the industry in the long run
The term cross-price refers to the idea that:
a. the price of one good is affecting the quantity demanded of a different good. b. the demand of one good is affecting the quantity demanded of a different good. c. the price of one good is affecting the quantity supplied of a different good. d. the supply of one good is affecting the quantity demanded of a different good.
To find the Real interest Rate
What will be an ideal response?