Refer to Table 2-15. What is Jack's opportunity cost of cultivating a garden?
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
D
Economics
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The current monetary system in the United States is
A) a mix of fiat money and exchange using transactions deposits at banks. B) a commodity money system. C) a gold standard. D) a commodity-backed fiat money system.
Economics
In the aggregate expenditures model, if an economy operates below equilibrium GDP, there will be:
a. unplanned inventory depletion. b. unplanned inventory accumulated. c. a decrease in GDP. d. a decrease in employment.
Economics