Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
a. Unemployment and capital goods production.
b. Number of resources and consumption goods production.
c. Composition of the economy's output and number of resources.
d. Capital and consumption goods production.
e. Technology and number of resources.
e
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The Congressional Budget Office estimates that the Patient Protection and Affordable Care Act (ACA) will
A) increase federal government spending by about $2 trillion over 10 years. B) cost the government significantly more than the additional taxes and fees enacted under the law will bring in. C) actually reduce government spending over a 20 year period. D) eliminate the budget deficit within 10 years.
The short-run Phillips curve shifted during the 1970s primarily because of
A) the two large oil price shocks. B) the changing demographics of the population. C) tight monetary policy. D) easy fiscal policy.
The costs associated with the negotiation and enforcement of an agreement are
A) property costs. B) resource factor costs. C) transaction costs. D) attorney fees.
In the United States, a "buy American" act was passed in 1933 to create larger markets for domestic goods
a. True b. False Indicate whether the statement is true or false