Investing $2 million of your own money in your business is an example of an _______ cost.
Fill in the blank(s) with the appropriate word(s).
implicit
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Under purchasing power parity (PPP), if U.S. monetary growth leads to a long run doubling of the U.S. price level, while Germany's price level remains constant, PPP predicts that the
A) long-run DM price of the dollar will be doubled. B) long-run DM price of the dollar will be halved. C) long-run DM price of the dollar will remain the same. D) short-run DM price of the dollar will be halved. E) short-run DM price of the dollar will be doubled.
Residential investment plunged quite noticeably ________ the start of the 1973-1975 and 1981-1982 recessions, with the prospect that recent financial deregulation would make it ________ sensitive to future changes in monetary policy
A) after, more B) after, less C) before, more D) before, less
If a consumer is maximizing utility, she will purchase quantities of output to the point where the total utility per dollar spent on consumption is equal across all goods
a. True b. False Indicate whether the statement is true or false
Canada and the U.S. are the world's greatest trading partners. But they wouldn't trade at all if
a. the opportunity costs for the goods they produce are the same in both countries b. the opportunity costs are unequal for all the goods they produce c. their production possibilities curves are unequal d. they had a history of mutual retaliation e. their resources were of different qualities