Refer to Table 2-15. What is George's opportunity cost of mowing a lawn?
A) one-half of a garden cultivated B) two lawns mowed
C) two-thirds of a garden cultivated. D) one and a half lawns mowed
A
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Speculative attacks against a currency are caused by fears of:
A. monetary policy tightening. B. exchange rate revaluations. C. exchange rate devaluations. D. balance-of-payments surpluses.
A monopolist's marginal revenue curve is
A) the same as a perfectly competitive firm's marginal revenue curve. B) higher than the monopolist's demand curve. C) below the firm's demand curve. D) a horizontal line at the market price.
The Federal Reserve System is run by the President of the United States
a. True b. False Indicate whether the statement is true or false
When the economy heads into a recession, automatic stabilizers cause
A. taxes and government spending to rise. B. the government budget deficit to increase. C. taxes and government spending to fall. D. national income to increase.