Changing which of the following is a Federal Reserve monetary policy tool?

Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point Y?

A) 2 million tons of paper B) 2 million tons of steel C) 14 million tons of steel D) 9 million tons of paper

If you exhibit the endowment effect as a decision maker, then you are

A) consuming based on celebrity endorsements. B) deciding on the basis of sunk costs. C) buying something you can't really afford because you expect to save in the future. D) ignoring non-monetary opportunity costs.