Refer to Figure 2-2. What is the opportunity cost of one dozen roses?
A) 0.4 dozen orchids B) 2.5 dozen orchids C) 7.25 dozen orchids D) 16 dozen orchids
A
Economics
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In the New Keynesian open economy model, suppose the exchange rate is flexible and there is a decline in total factor productivity
A) expansionary fiscal policy is necessary. B) contractionary monetary policy is necessary. C) expansionary monetary policy is necessary. D) no policy intervention is necessary.
Economics
If demand increases while supply decreases, then the equilibrium price
A) always increases. B) always decreases. C) may increase, decrease, or stay the same. D) never changes.
Economics