Any output combination outside the production possibilities curve is attainable in the current period only if prices decrease
a. True
b. False
Indicate whether the statement is true or false
False
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One suggested method of reducing excessive risk-taking by SIFIs is to require them to hold ________ capital when credit is expanding rapidly and ________ capital when credit is contracting
A) less; more B) more; no C) more; less D) less; no
An outward shift of an economy's production possibilities curve is not caused by:
A. an increase in capital. B. an increase in labor. C. an advance in technology. D. a decrease in unemployment.
Consumer surplus is the net economic benefit to consumers who are able to buy a good at a price lower than the highest price they are willing to pay.
Answer the following statement true (T) or false (F)
For voluntary action to correct an externality
A) transaction costs have to be high. B) transaction costs have to be low. C) transaction costs have to be split evenly between all of the parties involved. D) transaction costs are irrelevant.