If total production is less than total expenditures, then business firms
A) have overproduced.
B) will cut back on production.
C) will raise production.
D) will experience increases in inventory.
E) a and d
C
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The net gain to society from changing output from QC to QE is
Consider the following graph of the market for chemical solvents, production of which damages a waterbody used for recreation.
a. DG b. DEH c. DGH d. DEHG
The opportunity cost of a college education does not include any income that is foregone while enrolled in school, since this is not measured using monetary costs.
Answer the following statement true (T) or false (F)
The Board of Governors has
A) seven members appointed to 14-year terms. B) 14 members appointed to 10-year terms. C) four members appointed to seven-year terms. D) 14 members appointed to four-year terms. E) seven members appointed for life.
Compared to dollarization, a currency board
A) has a flexible exchange rate. B) has a separate currency. C) conducts independent monetary policy. D) is the same institution.