The above figure is referred to as a(n)
A. production possibilities curve.
B. supply-demand curve.
C. consumption curve.
D. scarcity-shortage curve.
Answer: A
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There is a positive relationship between two variables if
A) neither variable moves. B) they move in the same direction. C) they move in opposite directions. D) one variable changes and the other does not.
Why is collusion about the price and amount of output impossible in monopolistic competition?
What will be an ideal response?
When some forms of money start to pay interest, then along with a rise in real output it takes a ________ rise in the market interest rate than before to hold the demand for money equal to its supply, which is to say that the LM curve has become
________. A) larger, steeper B) larger, flatter C) smaller, steeper D) smaller, flatter
The school of thought that emphasizes the natural tendency for an economy to move toward equilibrium full employment is known as the:
a. Keynesian school. b. supply-side school. c. rational expectations school. d. classical school.