The slope of a many-worker consumption possibilities is determined by the relative price of
A. the good that is most in demand.
B. both goods in the world market.
C. both goods in the domestic market.
D. the good that is least in demand.
Answer: B
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An increase in money demand will shift the
A) IS curve to the left. B) IS curve to the right. C) LM curve to the left. D) LM curve to the right.
The above figure shows the isoquants for producing steel. When producing less than 10,000 tons there are
A) increasing returns to scale. B) decreasing returns to scale. C) constant returns to scale. D) diseconomies of scale.
Your Social Security contributions accumulate in a personal account during your working years, creating a savings balance from which retirement, disability, and health benefits are later paid
Indicate whether the statement is true or false
The CPI in year one equaled 1.45. The CPI in year two equaled 1.51. The rate of inflation between years one and two was ________ percent.
A. 4.0 B. 6.0 C. 4.1 D. 4.5