The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.The slope of the PPC between points X and Y is determined by ________ opportunity cost.

When a country's central bank temporarily switches from an expansionary to a more conservative monetary policy, one would expect the exchange rate to:

a. depreciate in the short run, then return to its initial value. b. appreciate in the short run, then return to its initial value. c. depreciate in the short run and then stay higher. d. appreciate in the short run and then stay lower.

The income of the middle person in an income distribution is called the

A) mean income. B) average income. C) median income. D) per capita income.