Nonactivists of policies contend that a policy of shifting the aggregate ________ curve will be costly because it produces ________ volatility in both the price level and output

Alpha can produce either 18 tons of oranges or 9 tons of apples in a year, while Omega can produce either 16 tons of oranges or 4 tons of apples. Which of the following statements is true? a. Alpha should export to Omega, but Omega should not export to Alpha

b. Since Alpha has an absolute advantage in both goods, no mutual gains from trade are possible. c. If Alpha specializes in growing apples and Omega specializes in growing oranges, they could both gain by specialization and trade. d. If Alpha specializes in growing oranges and Omega specializes in growing apples, they could both gain by specialization and trade.

In the calculation of a country's GDP per capita, the entire population of the country is included, irrespective of age

a. True b. False Indicate whether the statement is true or false