A point lying inside the production possibilities curve [PPC] is not an attainable combination
a. True
b. False
Indicate whether the statement is true or false
False
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The United States imposes a tariff on foreign limes. How does the tariff affect the U.S. price of a lime and the production of limes in the United States?
What will be an ideal response?
If the utilization rates of capital and labor are procyclical, then
A) output will rise in recessions and decline in expansions. B) measured productivity will be constant. C) the Solow residual will be procyclical. D) prices will be countercyclical.
The most important developments that reduced banks' income advantages include
A) the increase in off-balance sheet activities. B) the growth of securitization. C) the elimination of Regulation Q ceilings. D) the competition from money market mutual funds.
Why does the aggregate demand (AD) curve slope downward? What could cause the AD curve to shift to the right? What impact would a rightward shift of the AD curve have on the economy?
What will be an ideal response?