________ is considered to be the least mobile factor internationally.
A. Labor
B. Land
C. Capital
D. Entrepreneurship
Answer: B
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Aggregate demand:
A. Refers to the collective behavior of all buyers. B. Reflects the total quantity of output produced. C. Increases when the price level increases. D. Is influenced directly by aggregate supply.
In using a tanks and trucks production possibilities curve with increasing opportunity cost, producing more and more tanks
A. Is not possible due to scarcity. B. Requires us to give up larger and larger amounts of trucks per tank produced. C. Lowers the cost of each individual tank. D. Can be done at a constant opportunity cost.
To decrease the money supply using the reserve requirements, what would the Fed typically do?
A. raise the reserve requirement for banks B. reduce the reserve requirement for banks C. make each bank voluntarily set its own reserve levels D. let each bank get less currency from the Treasury
A consumer who has chosen the right mix of goods and services to maximize his or her utility is said to have achieved
A) consumer equilibrium. B) consumer benefit. C) consumer surplus. D) consumer optimum.