A decrease in the quantity of available resources would be represented by:
a. a steeper PPC.
b. a point inside the PPC.
c. an inward shift of the PPC.
d. an upward movement along the PPC.
e. a downward movement along the PPC.
c
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It is expected that the price of a bushel of wheat will increase in one month. This belief will result in
A) a decrease in the future supply of wheat. B) an increase in the current supply of wheat. C) a decrease in the current supply of wheat. D) no change in the current or future supply of wheat. E) an increase in the current quantity supplied of wheat.
Suppose we have an economy in which G = 100, t = 0.26, Y = 3800, and YN = 4000. Then t rises to 0.28 as the same time as G rises to 1150. The overall impact of this resettling of the fiscal variables is ________ because ________
A) expansionary, the actual deficit rises B) expansionary, the natural employment deficit falls C) contractionary, the natural employment deficit falls D) contractionary, the natural employment deficit rises E) contractionary, the actual deficit rises
Paradoxically, when the economy most needs injections of money, the economic conditions are such that
a. borrowers are particularly eager to go to banks for loans b. borrowers are most reluctant to borrow (demand loans) from banks c. the FDIC will insist that banks raise the interest rate they charge borrowers d. the FSLIC and FDIC will insist that banks lower the interest rate they charge borrowers e. the Federal Reserve will print less money
Price discrimination by a firm is
a. illegal under all circumstances. b. legal if the firm can show that the difference in the prices charged customers is justified by a difference in the costs of serving them. c. legal if the firm can show that the demand for its good is relatively elastic. d. legal under all circumstances.