Refer to Figure 2-8. What is the opportunity cost of 100 dozen roses?
A) 0.8 dozen orchids B) 5 dozen orchids C) 40 dozen orchids D) 80 dozen orchids
C
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Printing money to meet government budget deficits:
A) helps combat inflation. B) increases real income. C) increases the demand for money. D) acts as a tax on the citizens in an economy.
Which of the following is true?
A) At full employment, aggregate supply is equal to potential GDP. B) Aggregate supply is another name for potential GDP. C) Potential GDP decreases as the price level increases. D) The potential GDP line has a negative slope. E) Potential GDP increases as the price level increases.
Cartels are inherently unstable
a. True b. False
Each of the following took place in the latter half of the 1990s except
A. a declining federal budget deficit. B. a declining unemployment rate. C. the spread of computerization. D. a rising rate of inflation.