Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point A necessarily represents
A. only hybrid cars being produced.
B. an unattainable production point.
C. what society wants.
D. the economy's optimal production point.
Answer: A
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If the Fed does not take into account the additional policy channels available in an open economy, then ________ when conducting contractionary monetary policy
A) it is likely to decrease GDP too much and cause a recession B) it is likely to decrease GDP too little and inflation will persist C) it is likely to increase GDP too little and cause a recession D) it is likely to increase GDP too much and inflation will persist
An example of a payoff in a game would be:
A. a salary. B. winning an election. C. having clean drinking water. D. All of these are examples of payoffs.
If Carol's Crayon Factory's price exceeds its average total cost in the short run, then
a. it should shut down b. it is earning a profit c. profits are being maximized d. it should increase output e. it should decrease output
Refer to the table shown. In trillions of dollarsConsumption3.5Investment1.2Government Purchases1.8Exports0.6Imports0.4What is the economy's GDP?
A. $7.1 trillion B. $6.7 trillion C. $6.5 trillion D. $6.1 trillion