Refer to Table 2-4. What is Jack's opportunity cost of mowing a lawn?
A) one-half of a garden cultivated B) two lawns mowed
C) two-thirds of a garden cultivated D) one and a half lawns mowed
C
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With an upward-sloping aggregate supply curve, tight monetary policy:
A. Reduces aggregate demand and decreases inflationary pressures. B. Reduces aggregate demand and increases inflationary pressures. C. Raises aggregate demand and increases inflationary pressures. D. Raises aggregate demand and decreases inflationary pressures.
Factors that cause an increase in the demand for credit at a given real interest rate cause:
A) the credit demand curve to shift to the left. B) an upward movement along the credit demand curve. C) a downward movement along the credit demand curve. D) the credit demand curve to shift to the right.