In the above table, for Mary the opportunity cost of producing a dress is ________, and the opportunity cost for Mark of producing a dress is ________
A) 1 1/2 jackets; 2/3 of a jacket
B) 1 1/2 jackets; 2 1/2 jackets
C) 1 1/4 jackets; 1/2 of a jacket
D) 1 jacket; 1 jacket
E) 1 dress; 1 dress
A
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To "accommodate" an expansionary fiscal policy, the Fed ________ the money supply in order to hold ________ constant
A) expands, the interest rate B) expands, real income C) contracts, the interest rate D) contracts, real income
The "police power" of government to control business
(a) was exercised during the colonial period but lapsed when the Constitution was written. (b) was exercised during the colonial period and carried over to the new nation; it still exists today. (c) was not widely exercised during the colonial period but assumed greater importance in the new nation. (d) was important in England but was never important in the Americas, either before or after the Revolution.