Garbage is scarce because it is abundant
a. True
b. False
Indicate whether the statement is true or false
False
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The "Big Three" concepts of Macroeconomics are
A) profits, liquidity, and sustainability. B) unemployment rate, inflation, and economic growth. C) asset rebalancing, markups, and profitability. D) federal budget, foreign trade, and quantitative easing.
The slope of the production possibility frontier shows
a. how inputs must be changed to keep them fully employed. b. the technically efficient combinations of the two goods. c. how demanders are willing to trade one good for another. d. the opportunity cost of one good in terms of the other.
All of the macroeconometric models currently in use
A) originate in the United States. B) incorporate rational expectations into their predictions. C) originate with government or international agencies. D) originate with commercial firms who sell their forecasts to other firms and governments. E) none of the above
If the cross price elasticity of demand between two goods is positive, then the two goods are
A) substitutes. B) complements. C) independent. D) unrelated.