In a production possibilities frontier diagram, the attainable production points are shown as
A) the points inside and the points on the production possibilities frontier.
B) only the points inside the production possibilities frontier.
C) any of the production points.
D) only the points beyond the production possibilities frontier.
E) only the points on the production possibilities frontier.
A
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The marginal propensity to save (MPS) is the
A) fraction of additional income that is saved. B) amount of saving that is later consumed. C) total amount of income that is saved. D) part of consumption spending that does not depend on income.
Empirical studies have shown that in most situations people are:
A) risk-averse. B) risk-neutral. C) risk-loving. D) either risk-neutral or risk-loving but not risk-averse.
Suppose the market price of corn is $5.50 per bushel. What are the three conditions that will need to be satisfied for the corn market to be in equilibrium at this price?
What will be an ideal response?
When a foreign resident increases her holdings of a U.S. financial asset, the
A. financial account of the U.S. balance of payments will be debited. B. financial account of the U.S. balance of payments will be credited. C. current account of the U.S. balance of payments will be credited. D. current account of the U.S. balance of payments will be debited.