Production possibility curves are upward-sloping because increased production of one good implies reduced production of another good.
Answer the following statement true (T) or false (F)
False
Production possibility curves are downward-sloping. The rest of the statement is correct.
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Policies to keep inflation in check ________
A) are, typically, fiscal policies B) are a potential cause of high unemployment C) are unlikely to be needed, so long as government spending remains high D) include increasing the quantities of money and saving E) are desirable in the short run, but may produce bad long-run outcomes
If actual reserves in the banking system are $50,000, excess reserves are $5,000, and checkable deposits are $225,000, then the monetary multiplier is:
A. 10. B. 4. C. 5. D. 2.
Answer the following questions true (T) or false (F)
1. The decisions Apple makes in determining production levels for its iPhone is an example of a microeconomic topic. 2. Examining the conditions that could lead to unemployment in an economy is an example of a microeconomic topic. 3. Suppose that to increase sales of hybrid vehicles, auto manufacturers are offering large cash incentives. This is an example of a macroeconomic topic.
Which of the following statements about public goods is not true?
A. They are only produced by government agencies. B. They are non-excludable since those who do not pay for them cannot be excluded from enjoying them. C. They will be under supplied by the private sector. D. They bestow collective benefits on members of society.