Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120202408080401601204060801600800Jorge should specialize in the production of which good?
A. corn
B. green beans
C. both
D. neither
Answer: A
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In the figure above, which of the following represents a money flow?
A) Goods purchased B) Interest C) Capital D) Services sold E) Goods supplied
An inflation forecast developed in a Monetarist framework is likely to focus on
A) Federal Reserve policy. B) interest rate movements. C) household and business spending decisions. D) the velocity of money.
If there is a surplus of loanable funds, the quantity demanded is
a. greater than the quantity supplied and the interest rate will rise. b. greater than the quantity supplied and the interest rate will fall. c. less than the quantity supplied and the interest rate will rise. d. less than the quantity supplied and the interest rate will fall.
Economic models are used by economists to
A. Explain economic behavior. B. Develop economic policies. C. Predict economic behavior. D. All of the choices are correct.