Suppose that when NBC produces 1 new drama series in a season it gives up the chance to produce 3 new reality shows. This means that
A) the opportunity cost of a new drama series is 1/3 of a new reality show.
B) the opportunity cost of a 1 new reality show is 1/3 of a new drama series.
C) NBC has a comparative advantage in producing new drama series.
D) NBC has a comparative advantage in producing new reality shows.
B
Economics
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A spending shock
a. causes unemployment and inflation to change in the same direction b. results in a movement along the AD curve c. shifts the AS curve d. first affects the economy through the money market e. causes equilibrium GDP to change at each price level
Economics
On the surface, usury laws are designed to protect consumers from exorbitant interest rates
a. True b. False Indicate whether the statement is true or false
Economics