Based on the above table, as the production of pizza increases, the opportunity cost of pizza in terms of forgone cases of soda
A) increases.
B) decreases.
C) does not change.
D) initially increases then decreases.
A
Economics
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In Figure 4-6 above, suppose we are initially at point 2. A reduction in government spending causes income to change by ________ and the interest rate to change by ________ than would be the case in the Chapter 3 model
A) more, more B) more, less C) less, more D) less, less
Economics
Bob's Barber Shop cut 3,000 heads of hair in 2014 and 3,100 in 2015. The price of a haircut was $7 in 2014 and $8 in 2015. If 2014 is the base year, what was Bob's contribution to nominal GDP in the year 2014?
A. $24,000 B. $21,700 C. $24,800 D. $21,000
Economics