In one hour, George can fix 4 flat tires or type 200 words. His opportunity cost of fixing a flat tire is
a. 200 words
b. 4 flat tires
c. 1 word
d. 50 words
e. 800 words
D
Economics
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An unexpected decrease in aggregate demand
A) will decrease long-run aggregate supply. B) will decrease the average duration of unemployment. C) will decrease the price level. D) will decrease real GDP, but will not affect the rate and duration of unemployment.
Economics
When the Fed sells bonds, the money supply:
A. Selling bonds does not affect the money supply. B. sometimes rises and sometimes falls. C. contracts. D. expands.
Economics
Why does entry into markets decrease firm profits?
What will be an ideal response?
Economics
Labor productivity can be increased with
A. education and training of the workforce. B. improvements in management. C. an increase in capital goods used. D. all of these
Economics