A production point that lies outside the Production Possibilities Curve (PPC)
A. can never be reached, even in future periods.
B. is currently not attainable.
C. indicates unemployment.
D. denotes inefficiency.
Answer: B
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When the price level is below the level at which the aggregate demand curve crosses the long run aggregate supply curve
A) there will be no price level change. B) there will be pressures that will lead to a shift of either the aggregate demand or the long run aggregate supply curves. C) total planned real expenditures will exceed actual real GDP, and the price level will increase. D) total planned real expenditure will be lower than actual real GDP, and the price level will increase.
The continuation of federal agricultural subsidy programs is based on a desire not to undermine the stability of the farm economy
Indicate whether the statement is true or false
Quantitative easing refers to a situation in which conventional monetary policy is ineffective in fighting an economic slump because nominal interest rates are up against the zero bound
a. True b. False Indicate whether the statement is true or false
A proprietorship is
A) a business with annual sales of less than $50,000 a year. B) a business owned by one individual that employs 10 or fewer workers, and has been in business less than 15 years. C) a business owned by one individual who receives the profits and is legally responsible for the debts of the firm. D) a form of business in which the stock of the company is closely held by members of one family.