Refer to the above figure. Between points f and g, the opportunity cost of producing 75 more bushels of wheat is
A. 4 bushels of beans.
B. 100 bushels of beans.
C. 1 bushel of beans.
D. 25 bushels of beans.
Answer: B
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In the short run, when the Fed raises the federal funds rate,
A) the real interest rate is unchanged so investment and consumption expenditure are not changed. B) the real interest rate temporarily falls, thereby increasing investment and consumption expenditure. C) the real interest rate temporarily increases, thereby decreasing investment and increasing consumption expenditure. D) the real interest rate temporarily increases, thereby decreasing investment and consumption expenditure. E) investment and consumption expenditure increase, thereby raising the real interest rate temporarily.
The broadest measure of the aggregate price level is the
a. GDP deflator. b. consumer price index. c. producer price index. d. gross domestic product.
The Sherman Act
a. created the Federal Trade Commission b. established the Department of Justice Guidelines c. regulated railroad and trucking industries d. outlawed restraints of trade e. forbade price discrimination
What will happen in the economy if the government increases spending and increases taxes by equal amounts to pay for that additional government spending?
What will be an ideal response?