If the price of vanilla ice cream decreases, it is likely that
a. demand for vanilla ice cream will increase
b. demand for vanilla ice cream will decrease
c. demand for chocolate ice cream will increase
d. demand for chocolate ice cream will decrease
e. the quantity demanded of vanilla ice cream will decrease
D
Economics
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Suppose you have saved $300 . You can spend it on a new stereo or on a weekend skiing trip. What is the opportunity cost of going on the skiing trip?
What will be an ideal response?
Economics
If the Federal Reserve wants to reduce inflation from 4 percent to 3 percent permanently, how can that goal be achieved, and what impact will that have on employment in the short run and the long run? Support your answer with a graph of the Phillips
curve in the short run and the long run.
Economics