Economists generally assume that there is a short-run trade-off between
a. output and employment.
b. inflation and employment.
c. deflation and unemployment.
d. inflation and unemployment.
e. output and growth.
d
Economics
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Economics
If Jason can wash a car in 20 minutes and wash a dog in 10 minutes, and Megan can wash a car in 15 minutes and wash a dog in 15 minutes, which of the following statements is true?
a. The opportunity cost of washing a car is greater for Megan. b. The opportunity cost of washing a car is one dog bath for Jason. c. Megan could wash two cars in the time it takes to wash a dog. d. Jason has both a comparative and an absolute advantage in washing a dog. e. The opportunity cost of washing a dog is greater for Jason.
Economics