In the above table, the opportunity cost of the 2nd pizza is
A) 0 cases of soda per pizza.
B) 15 cases of soda per pizza.
C) 95 cases of soda per pizza.
D) 80 cases of soda per pizza.
B
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An above-full-employment equilibrium occurs when
A) aggregate demand decreases while neither the short-run nor long-run aggregate supply changes. B) short-run aggregate supply decreases while neither aggregate demand nor long-run aggregate supply changes. C) the equilibrium level of real GDP is greater than potential GDP. D) the equilibrium level of real GDP is less than potential GDP.
Describe the main ideas of endogenous growth theory. What does it have to say about the role of government in economic growth?
What will be an ideal response?
Evidence indicates that there's a strong relationship between money and inflation in:
A) both the short and long run B) neither the short nor the long run C) short run, but not the long run D) long run, but not the short run
A consumption bundle
A) is a particular combination of consumption and leisure. B) only measures a quantity of goods and services, but not the amount of leisure. C) is a method of bringing home consumption goods. D) measures the quality of a particular good.