Refer to Figure 2-14. What is the opportunity cost of producing 1 popsicle in Greenland?
A) 2/3 of a snow cone B) 5/6 of a snow cone C) 1 1/5 snow cones D) 240 snow cones
C
Economics
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According to the quantity theory of money, if the money supply grows at 25% and the inflation rate is 20%, the growth in real GDP is
A) 0.8%. B) 1.25%. C) 5%. D) 45%.
Economics
The concept of Say's law can be summed up by the phrase,
A) "supply creates its own demand." B) "demand creates its own supply." C) "supply and demand are equivalent concepts." D) "supply and demand are irrelevant concepts."
Economics