In a classic administrative snafu, the Army assigns trained classical musicians to kitchen duty and places trained cooks in the military band. This is an example of inefficiency in

Refer to Table 2-6. What is James's opportunity cost of making a tricycle?

A) 2 tricycles B) 3/4 of a wagon C) 1/2 of a wagon D) 1/2 of a tricycle

The old classical macroeconomic was based on an assumption of price and wage ________, and thus an economy that ________

A) flexibility, promptly self-corrected B) flexibility, failed to self-correct promptly C) stickiness, promptly self-corrected D) stickiness, failed to self-correct promptly