What is an isoquant?
What will be an ideal response?
An isoquant is a curve that shows all of the combinations of labor and capital that can be used to produce a given level of output.
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All of the following have been proposed as reasons for an unusually high level of uncertainty following the financial crisis of 2007-2009 EXCEPT:
A) the severity of the financial crisis B) concerns of small businesses regarding how the Affordable Care Act would affect the cost of hiring workers C) concerns by households and firms regarding potential tax increases and spending cuts scheduled to take place in January 2013 D) the Fed indicating that it would withdraw stimulus as soon as there was any evidence of economic recovery
Which of the following is responsible for providing currency and cash to banks?
A. The Legislative Branch of government. B. Comptroller of the Currency. C. The Federal Reserve System. D. The U.S. Treasury.
If the supply curve of a commodity is upward sloping, and the producing country begins to export more in a pure free trade system, the domestic price of the commodity will
A. fall. B. rise. C. exceed the price in foreign countries. D. be below the price in foreign countries.
The boom in housing prices from 2000-2005 contributed to the expansion that followed the 2000-2001 recession.
Answer the following statement true (T) or false (F)