Plastics manufacturers can make either toys or plastic containers. If the prices and profitability of plastic toys increase, then the:
A. Demand for plastic containers will decrease
B. Supply of plastic containers will increase
C. Demand for plastic containers will increase
D. Supply of plastic containers will decrease
Answer: D
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When one country can produce a given amount of a good using fewer inputs than any other country,
A. Specialization will definitely increase worldwide consumption possibilities. B. It always has a comparative advantage in producing the good. C. Specialization will definitely increase worldwide production possibilities. D. It has an absolute advantage in producing the good.
Using the Rule of 72, how long will it take something growing at 2% per year to double?
A. 36 years B. 100 years C. 144 years D. 50 years
According to the Taylor rule, if inflation rises by 1 percent above its target of 2 percent, the Fed should:
A. Lower the real Federal funds rate by 0.5 percent B. Raise the real Federal funds rate by 0.5 percent C. Lower the money supply by 5 percent D. Raise the money supply by 5 percent
Refer to the below graph. The Gini ratio would be greatest for which curve?
A. a
B. b
C. c
D. d