A family on a trip budgets $800 for meals and hotel accommodations. Suppose the price of a meal is $40 . In addition, suppose the family could afford a total of 8 nights in a hotel if they don't buy any meals. How many meals could the family afford if they gave up two nights in the hotel?
a. 1
b. 2
c. 5
d. 8
c
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The central fact of economics is
A. Production. B. Equilibrium. C. Efficiency. D. Scarcity.
Changes in factors of production that influence economic growth will
A. shift SRAS but not LRAS. B. shift SRAS and LRAS.
Which of the following is correct? i. U.S. total surplus decreases when the United States exports a good. ii. U.S. total surplus decreases when the United States imports a good. iii. U.S
total surplus increases when the United States imports a good and when it exports a good. A) i only B) iii only C) i and ii D) ii only E) None of the above because the U.S. total surplus does not change as a result of trade
The real interest rate for investments reflects not only the short-term real interest rate set by the central bank, but also the financial frictions
When the policy rate has hit the floor of zero, to stimulate the economy at given inflation rates, policymakers can A) lower the financial frictions. B) lower the short-term real interest rate. C) lower both the short-term real interest rate and the financial frictions. D) lower the policy rate.