Any combination of goods that can be produced with currently available resources is an:
A. inefficient point.
B. attainable point.
C. attainable and efficient point.
D. efficient point.
Answer: B
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Consider a consumer of baked beefsteaks and fried fish fillets. Suppose the price of a plate of baked beefsteak is $8 and that of fried fish fillets is $10 at a restaurant. If the marginal utility of baked beefsteak to the consumer is 20 units, compute the marginal utility of fried fish fillets, assuming that the consumer is in equilibrium
a. 12 units b. 20 units c. 25 units d. 80 units
Many of the important international governmental institutions that deal with the global economy have their roots in the Bretton Woods conference at the end of World War II
Indicate whether the statement is true or false
One of the administrative bodies responsible for initiating actions on behalf of the U.S. government against individuals or companies violating antitrust laws is the
A. Federal Utility Commission. B. Interstate Commerce Commission. C. Federal Reserve Bank. D. Antitrust Division of the Justice Department.
If the people of Redland are expecting the central bank to conduct an expansionary monetary policy for several years, how will the long-run real interest rate in Redland be affected?
What will be an ideal response?