Which of the following statements is true?
A) The production possibilities curve of a nation is fixed in the long run.
B) The production possibilities curve can only shift to the right.
C) The production possibilities curve of an economy is concave to the origin.
D) The slope of the production possibilities curve represents the ratio of the marginal cost of producing goods.
C
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If the money demand function is given by Md = 10 + 0.2Y ? 10r then a 10-unit increase in the quantity of money will cause the LM schedule to shifts to
a. to the right by 10 units. b. the right by 50 units. c. to the left by 40 units. d. to the left by 50 units. e. to the right by 40 units.
A business executive who buys a portable computer so that she can work on airplanes is trying to reduce the cost of traveling
a. True b. False
In 2009, the top 1 percent of income earners made about
a. 1 percent of all income and paid about 1 percent of all taxes. b. 13 percent of all income and paid about 22 percent of all taxes. c. 22 percent of all income and paid about 13 percent of all taxes. d. 50 percent of all income and paid about 50 percent of all taxes.
Economists are fairly confident that globalization leads to a(n) _____________ standard of living based on their comparisons of countries with __________________ characteristics
A) increased; similar B) increased; very few similar C) decreased; similar D) decreased; very few similar