In the economic way of thinking, we assume that central bankers act
A) selfishly.
B) to promote projects which interest them.
C) in the national interest.
D) in the global interest.
B
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In Figure 3-7, if we compare a move from point B to C with a move from point A to point B, we can see that
A. the opportunity cost of the move from B to C is higher than the opportunity cost of a move from A to B. B. the opportunity cost of the move from B to C is lower than the opportunity cost of a move from A to B. C. the opportunity cost of the move from B to C is equal to the opportunity cost of a move from A to B. D. the production possibilities frontier has a positive slope.
Suppose that the U.S. government acquires more foreign currency. This change is entered into which of the balance of payments accounts?
A) current account B) capital and financial account C) official settlements account D) reserves account E) trade account
If a market is allocatively efficient,
a. firms are minimizing marginal cost b. firms are minimizing total cost c. consumers are minimizing expenditures d. it must be impossible to increase total utility e. it must be impossible to decrease output
"If an industry's minimum efficient scale is between 2,000 and 4,000 units of output, then a firm producing 2,000 units of output in that industry has a cost-saving advantage over another firm producing 4,000 units of output in the same industry." Do you
agree or disagree? Explain. What will be an ideal response?