Given the strict quantity theory of money, if the quantity of money were decreased by 50 percent, prices would

If Elizabeth can make 3 pies or bake 6 cakes per hour and Benjamin can make 2 pies or bake 8 cakes per hour, _____.

(A) Benjamin has the comparative advantage in making pies. (B) Elizabeth has the comparative advantage in baking cakes. (C) Benjamin should specialize in making pies. (D) Elizabeth should specialize in making pies.

Equations for C, I, G, and NX are given below. If the equilibrium level of GDP is $32,000, what is the marginal propensity to consume?

C = 5,000 + (MPC)Y I = 1,500 G = 2,000 NX = -500 A) 0.67 B) 0.75 C) 0.8 D) 0.9