For an economy to produce at a point beyond its current ppf, the economy must
A. increase its resource base.
B. reduce inputs.
C. be more efficient.
D. waste less.
Answer: A
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An important function of the regional Federal Reserve Banks is
A) setting reserve requirements. B) clearing checks. C) determining monetary policy. D) setting margin requirements.
Suppose the market for a good is expressed as follows:
Inverse demand: P = 200 - 2Q Inverse supply: P = 2Q What is the equilibrium if the government imposes a supply quota of 75 units? What is the equilibrium if the government imposes a supply quota of 25 units?
If the absolute price of a computer is $500 and the relative price of a dining room table is 3 computers, it follows that the absolute price of a dining room table is
A) $167. B) $750. C) $3,000. D) $30,000. E) none of the above
List the major outcomes from the General Agreement on Tariffs and Trade.
What will be an ideal response?