If an economy can produce a maximum of 100 units of good X and the opportunity cost of 1X is always 5Y, then what is the maximum number of units of good Y the economy can produce?
A) 250
B) 100
C) 20
D) 500
E) none of the above
D
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What is the difference between the quantity supplied of corn and the supply of corn? What could cause a rise in the quantity supplied of corn, and what could cause a rise in the supply of corn? How would these changes be shown graphically using a supply curve?
What will be an ideal response?
The total of all planned production for the entire economy is known as
A) aggregate inflation. B) aggregate supply. C) aggregate expenditures. D) aggregate demand.
A decrease in monetary base ________ the quantity of money, the interest rate ________, and the quantity of money demanded ________
A) decreases; falls; decreases B) decreases; falls; increases C) decreases; rises; increases D) decreases; rises; decreases E) increases; falls; decreases
In equilibrium,
A) income = planned expenditures. B) unplanned inventory investment is zero. C) Ep (planned expenditures) crosses the 45-degree income line. D) all of the above.