If the price of the good increases,
a. MPP will increase
b. MLC will increase
c. MRP will increase
d. MPP will decrease
e. TLC will increase
C
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Imagine the inflation rate begins to rise rapidly, the FOMC meets and it is believed that the target interest rate needed to stem the inflation could easily exceed 20 percent. Many members of the committee believe the Fed cannot announce this high of a target for political reasons. Discuss what the FOMC could do in terms of targets and what change occurred in 2002 that is going to make their job a bit more difficult.
What will be an ideal response?
Why have commodity prices fallen since 1850?
A. The demand for productive resources has fallen faster than the supply of those resources. B. The demand for productive resources has grown faster than the supply of those resources. C. The supply of productive resources has increased, while the demand has fallen. D. The supply of productive resources has grown faster than the demand for those resources.
An antigrowth view would be that there may be a significant tradeoff between productivity and:
A. Education B. Employment C. Economies of scale D. The quality of life
Coldest Ice produces ice packs for use in lunch boxes. All of the following could be accidents for Coldest Ice except which one?
A) the ice packs failing to meet safe food temperatures B) the ice packs infringe on another firm's patent C) a successful audit D) the ice packs leak