Refer to the figure above. What is the opportunity cost of producing one Web site?
A) 0.2 computer programs
B) 5 computer programs
C) 12 computer programs
D) 60 computer programs
B
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According to this Application, a common belief is that fiscal multipliers are ________ during ________
A) larger; recessions B) of equal size; recessions and growth periods C) smaller; growth periods D) smaller; recessions
The international financial crisis of 2007 was the result of
A) failure of the Euro currency. B) runaway inflation in the U.S. C) a deep global recession. D) the collapse of global currency markets. E) defaults on U.S. mortgage-backed securities.
Supporters of Federal Reserve independence contend that independence from the rest of the federal government leads to lower
A) inflation rates. B) interest rates. C) reserve requirements. D) rates of unemployment.
You could conclude that
A. new firms will enter the industry.
B. existing firms will leave the industry.
C. the industry is in the long run.
D. it is unclear whether the industry is in the short run or the long run.