Refer to the table below. Martha's opportunity cost of making a cake is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 60 pies.
B. 3/4 of a pie.
C. 6 pies.
D. 4/3 of a pie.
Answer: D
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A) imports become cheaper for the U.S. consumer. B) exports will increase sharply. C) U.S. goods will become cheaper overseas. D) U.S. goods are cheaper domestically.
Some economists argue that policymakers can use monetary and fiscal policy to reduce the severity of economic fluctuations. What are some things policymakers can do to boost the economy when aggregate demand is inadequate to ensure full employment?
An asset price "bubble" is often supported by
A. borrowed money. B. sellers with irrationally pessimistic price expectations. C. buyers with irrationally pessimistic price expectations. D. politicians with insatiable appetites for capital gains tax revenues.
When a Chinese company builds an auto plant in the United States, the immediate result of this Chinese investment in the United States is a ________ item in the U.S. ________ account.
A. deficit; current B. surplus; current C. surplus; financial D. deficit; financial