Eli is headed to his job harvesting grapes at a local vineyard. He earns $8 every hour he works there. He could also earn $7 an hour working as a bagger at the local grocery. Assuming Eli can only choose between these 2 jobs and that the benefits of each job are the same. Eli’s opportunity cost every hour he decides to work at his harvesting job is:

Refer to Figure 24-1. Ceteris paribus, a decrease in the value of the domestic currency relative to foreign currencies would be represented by a movement from

A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.

Forward guidance refers to central banks

A) setting long-term interest rates. B) engaging in monetary policy to offset the negative side-effects of the government's fiscal policies. C) telling the public what future monetary policy will be. D) simultaneously reducing unemployment and inflation.