The mathematical representation of the technological relationship between inputs and national output is known as the
A. input-output table.
B. aggregate supply function.
C. production possibilities frontier.
D. aggregate production function.
Answer: D
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A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can
A new pollution law requires businesses to pay for inspections of their plants by independent pollution-monitoring firms. What effect is this likely to have?
A) Increase productivity B) Increase the capital stock C) Reduce productivity D) Increase the demand for labor in those firms
To raise economic growth, a tighter fiscal policy should be accompanied by a ________ money supply in order to keep the ________ from falling
A) larger, output ratio B) larger, real interest rate C) smaller, output ratio D) smaller, real interest rate
What happens to the Canadian monetary base if there is an excess supply of 100 million euros in the Canadian dollar:euro foreign exchange market, which the Bank of Canada purchases?
a. The Canadian monetary base falls by 100 million euros worth of Canadian dollars. b. The Canadian monetary base falls. The amount depends on the size of the money multiplier c. The Canadian monetary base might fall or rise. d. The Canadian monetary base rises by 100 million euros worth of Canadian dollars. e. The Canadian monetary base rises. The amount depends on the size of the money multiplier.