When constructing a production possibility curve for an economy, which of the following is assumed to be constant?
a. The quantity of resources
b. The government budget
c. The quantity of goods produced
d. The price level
e. The money supply
a
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Traci is a nurse, and she gets paid an additional $1.00 per hour for agreeing to work the night shift. Carol is also a nurse, but she works the day shift and does not get paid this extra dollar per hour. This difference in pay is an example of a compensating differential
a. True b. False Indicate whether the statement is true or false
Expansionary monetary policy will only temporarily depress interest rates in a basic proposition of the __________ school.
Fill in the blank(s) with the appropriate word(s).
Suppose Diego deposits $4,000 in his bank. If the reserve ratio is 10 percent, this will lead to a maximum increase of ________ in checking account balances throughout all banks.
A. $0 B. $4,000 C. $10,000 D. $40,000
Over the past fifty years, convergence has generally occurred for all of the following groups of countries with the exception of
A) the five richest countries. B) European countries. C) the 'four tigers' in Asia. D) OECD countries. E) none of the above