Productive efficiency is not achieved at any point inside the production possibility curve.
Answer the following statement true (T) or false (F)
True
Since it is always possible to reallocate resources at any point inside the production possibility curve in a way that increases output, these points do not represent productive efficiency. Productive efficiency is achieved on the production possibility curve.
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If there is an increase in the number of discouraged workers in a country, ________
A) the unemployment rate will decrease B) the labor force participation rate will increase C) the unemployment rate will increase D) the labor force participation rate will decrease
Why is the change in reserve requirement not frequently used to control the supply of money?
A field experiment conducted by economists in the Chinese province of Hunan provided evidence that, for poor households in that province, rice is a __________ good
Fill in the blank(s) with correct word
An increase in interest rate will ______ the quantity of money demanded for transactions and ______ the quantity of money demanded for speculation.
a) increase; increase b) increase; decrease c) decrease; increase d) decrease; decrease