Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 3.3. Nigel's opportunity cost of producing one hair pin is
A) 1/3 of a bandana. B) 2.5 bandanas. C) 3 bandanas. D) 10 bandanas.
B
Economics
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If the economy is growing beyond potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in
A) the money supply and a decrease in interest rates. B) taxes. C) oil prices. D) government purchases.
Economics
Modern Monetarists argue that the velocity of money is
A) constant. B) the inverse of the money multiplier. C) unmeasurable. D) predictable.
Economics