The problem of determining how goods and services should be produced is a problem of deciding:
A) the best combinations of resources to be used for producing goods and services.
B) the extent to which imports should be reduced relative to exports.
C) the extent to which exports should be reduced relative to imports.
D) who owns the resources.
Ans: A) the best combinations of resources to be used for producing goods and services.
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
A matched sale-purchase agreement of government securities by the Fed
A) permanently increases bank reserves. B) temporarily increases bank reserves. C) permanently reduces bank reserves. D) temporarily reduces bank reserves.
To understand what causes the business cycle, leading variables alone are of interest. Coincident and lagging variables merely display the consequences of changes in the economy. Respond
What will be an ideal response?
The production possibilities frontier illustrates
a. the fundamental fact of scarcity. b. the opportunity cost of acquiring more of one good. c. maximum output utilizing all resources efficiently. d. All of the above are correct.