Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, which country is most likely to expand its PPF to PPF3?
A) Germany
B) Estonia
C) India
D) France and Germany equally
E) France
A
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A) the price level is increasing at a constant rate. B) the price level is constant. C) real output is constant. D) velocity is constant.
Exogenous variables in the IS-LM model variables are
a. money supply b. autonomous consumption c. government spending d. prices e. all of the aboveFigure 7-4
If the union leader has already sent strikers to the picket line before entering negotiations, the union has
a. Eliminated half of the strategies of the game b. Forced the firm to choose the best response in the union's best interest c. Made it in the firm's best interest to accommodate their requests d. All of the above
The term ceteris paribus means that
a. everything is changing. b. all variables except those specified are constant. c. no one knows which variables will change and which will remain constant. d. the basic postulate of economics does not apply for the case being considered.