ch1.What does the expression "There's no such thing as a free lunch" mean?
What will be an ideal response?
The use of resources to produce a good has an opportunity cost because of scarcity.
Economics
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Refer to Scenario 6.1. Suppose the friends are forced by government to combine their businesses and share what they make. With this revision to the scenario, the dominant strategy is for Tasha to work ________ and for Gloria to work ________
A) extremely hard; extremely hard B) extremely hard; somewhat hard C) somewhat hard; extremely hard D) somewhat hard; somewhat hard
Economics
If the Fed raises the federal funds rate,
A) investment increases. B) real GDP increases. C) exports increase and imports decrease. D) exports decrease and imports increase. E) in the short run the interest rate falls.
Economics