Refer to Table 2-6. What is Lucy's opportunity cost of making a wagon?
A) 3/4 of a wagon B) 2 tricycles C) 1 1/3 tricycles D) 3 wagons
C
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
What is the main problem with rules of origin?
What will be an ideal response?
Sales taxes, property taxes, and value-added taxes are examples of indirect taxes.
Answer the following statement true (T) or false (F)
Refer to the above figure. Unexpected contractionary monetary policy has caused the aggregate demand curve to shift to AD2. In the short run
A) the unemployment rate will be larger than the rate before the contractionary monetary policy. B) the unemployment rate will be smaller than the rate before the expansionary monetary policy. C) the unemployment rate will be the same rate as before the expansionary monetary policy. D) the unemployment rate can increase or decrease depending upon how much the LRAS will shift.