Refer to the accompanying figure. If this economy is currently producing at point C, then the opportunity cost of providing 100 additional units of medical care would be:
A. 400 warheads.
B. 100 warheads.
C. 800 warheads.
D. 200 warheads.
Answer: A
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Microeconomics is the study of topics such as national production and unemployment
Indicate whether the statement is true or false
________ in the money supply creates excess demand for ________, causing interest rates to ________, everything else held constant
A) An increase; money; rise B) An increase; bonds; fall C) A decrease; bonds; rise D) A decrease; money; fall
According to the interest parity condition, if the domestic interest rate is 10 percent and the foreign interest rate is 12 percent, then the expected ________ of the foreign currency must be ________ percent
A) appreciation; 4 B) appreciation; 2 C) depreciation; 2 D) depreciation; 4
Economists are particularly adept at understanding that people respond to
a. laws. b. incentives. c. punishments more than rewards. d. rewards more than punishments.