When total expenditures are greater than total production, __________ is produced than households want to buy, which leads to __________ in inventory, which signals firms that they have __________, which causes firms to increase production
A) less; decreases; underproduced
B) more; increases; underproduced
C) less; increases; underproduced
D) more; decreases; overproduced
A
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The figure above shows Prakash's and Gail's production possibilities frontiers for writing books and magazine articles
a. What is Prakash's opportunity cost of a book? What is Gail's opportunity cost? Who has the comparative advantage in writing books? b. Who has the comparative advantage in writing magazine articles? c. According to their comparative advantages, who should write books and who should write magazine articles?
In 1913, Congress and the President did not envision that the Fed would control
A) the money supply. B) discount loans. C) lender-of-last-resort activity. D) broad control over most aspects of money and the banking system.
Refer to Scenario 17.2. The lowest level of y* that can be set and still have only the high-productivity people meet it is
A) 90. B) 60. C) 30. D) 22.5. E) 15.
An example of a nonrenewable resource would be:
A. wireless technology. B. a computer. C. sunlight. D. None of these is considered a nonrenewable resource.