If the opportunity costs of producing a good increase as more of that good is produced, the economy's production possibility frontier will be

A. a negatively sloped straight line.
B. negatively sloped and "bowed inward" toward the origin.
C. negatively sloped and "bowed outward" from the origin.
D. a positively sloped straight line.


Answer: C

Economics

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In the United States in 2014, a majority of people received health care through

A) Medicaid. B) their employers. C) individually purchased insurance policies. D) Medicare.

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Monetarists believe that changes in the money stock

a. have an immediate effect on the level of income. b. will always have a persistent impact on output for more than two years. c. do not affect the level of income to any great extent. d. have a persistent impact on output for as long as it takes the expected price level to adjust to the actual price level. e. both b and d.

Economics

According to the simple quantity theory of money, which of the following variables are considered either constant or relatively stable?

A) V and Y B) Y and Ms C) P and Ms D) P and Y

Economics

Answer the following question based on the information given below: Deposits at the central bank = 400 U.S. Government Securities = 600 Checking Deposit = 1,700 Loans = 800 Stockholder's Equity = 70 Other Assets = 450 Other Liabilities = 380 Borrowing from the central bank = 250 Cash in the Vault = 150 If the reserve requirement is 20%, the level of excess reserves equals:

a. 210 b. 440 c. 70 d. 550 e. Cannot be determined with this information.

Economics