What matters to people is the real value of money or income.
Answer the following statement true (T) or false (F)
True
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Suppose that Germany, France, Estonia, and India all have the same production possibilities, illustrated in the figure above. Based on the production points in the figure, Germany is most likely to expand its PPF to
A) PPF3 or PPF2. B) PPF3. C) PPF1. D) PPF1. or PPF2. E) PPF2.
The cost of producing an additional unit of a good or service that falls on people other than the producer of that good or service is the
A) marginal external cost. B) marginal private cost. C) marginal social cost. D) None of the above answers is correct.
When the Fed wants to raise interest rates after banks have accumulated large amounts of excess reserves, it would
A) increase the interest rate paid on excess reserves. B) increase discount rate. C) increase the required reserve ratio. D) conduct massive open market purchase.
When there is a change in the quantity demanded it means that:
A. the hours the customer can buy products each day have increased. B. the number of products in inventory have increased. C. the quantity a consumer is willing to buy changes when the price changes. D. the selling price of the products has not changed.