In the table above, points A through F represent _______________________ of resources.
Hypothetical Production Schedule for a Two-Product Economy
full employment
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The typical shape for a yield curve is
A) gently upward sloping. B) mound shaped. C) flat. D) bowl shaped.
Many Marxist sociologists assume that large-scale economic structures are the most important factors in people's lives. Given this, what sort of sociology would these sociologists tend to prefer?
If the price of inputs rises and foreign income rises:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand rises, but aggregate supply does not change. c. Aggregate demand falls, and aggregate supply rises. d. Aggregate demand and aggregate supply rise. e. Aggregate demand and aggregate supply fall.
If Congress votes to increase government purchases and at the same time decreases personal income taxes, they
A. have decided to balance the federal budget. B. have voted for the proper policy to counteract a recessionary gap. C. have voted for the proper policy to counteract an inflationary gap. D. are trying to achieve a federal budget surplus.