Refer to Figure 2-8. If Vidalia chooses to produce 60 dozen orchids, how many roses can it produce to maximize production?

The labor force of a country is 150 million, of which 60 million are employed. Therefore, the unemployment rate in this country is 40%

a. True b. False Indicate whether the statement is true or false

Suppose the economy of Catalania is experiencing a recession and policy makers decide to implement an expansionary monetary policy. It takes more than a year to implement the recommended policy measures. This is an example of a(n): a. liquidity trap

b. wage-price spiral. c. administrative lag. d. operational lag.