South Korea used an inward-oriented development strategy to focus on the growth of exports

Which of the following sets of goods might, under the right circumstances, be substitutes for water?

A) Milk and juice B) Beer and wine C) Stones and bricks D) A, B, and C above are all potential substitutes for water. E) A and B above are potential substitutes for water, but C (stones and bricks) can never be substitutes for water in the real world.

Negative supply shocks confront the Fed with a dilemma because

a. full employment is no longer possible b. the costs of fulfilling one objective are paid in terms of failure to meet the other c. inflation cannot be prevented considering the reduced supply d. all policy choices are equally undesirable e. such shocks are entirely unpredictable