Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following will shift an economy's production possibility frontier from ppf1 to ppf2?
A. a change in consumers' tastes
B. an increase in production efficiency
C. an increase in the economy's capital stock
D. a decrease in unemployment
Answer: C
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The contagion that spread to South Korea, Indonesia, and other countries during the Asian financial crisis was:
A. competitive devaluation that led to plummeting exchange rates for all. B. speculative attacks forcing them to abandon their fixed exchange rates. C. competitive revaluation that led to severe overvaluation and collapse for all but South Korea. D. a result of employing a fixed exchange rate by China.
Frictional unemployment is unemployment reflecting a mismatch of skills and jobs.
Answer the following statement true (T) or false (F)
The point where quantity demanded and quantity supplied are equal is known as the
a. ceiling price. b. minimum price. c. equilibrium price. d. administered price.
The Federal Open Market Committee (FOMC) is composed of the seven members of the Board of Governors,
A) the president of the New York Federal Reserve District Bank, and four of the remaining 11 Federal Reserve District Bank presidents who rotate on an annual basis. B) and five state governors who rotate on an annual basis. C) four Federal Reserve District Bank presidents who rotate on an annual basis, and the head of the Senate Banking Committee. D) and the Secretary of the Treasury.