Refer to Exhibit 2-3. If PPF1 is the relevant production possibilities frontier, society may move to PPF2 as a result of
an increase in resources.
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Refer to Table 2.1. GDP in 2012 is
A) $190.00. B) $199.50. C) $215.00. D) $267.50.
The implementation lag is _____ for fiscal than for monetary policy; the lag before the effects of monetary policy on real output and unemployment is ____ than for its effects on real output and unemployment:
a. Longer, long and variable b. Longer; relatively short and predictable c. Shorter; long and variable d. Shorter; relatively short and predictable
When a firm wants to borrow directly from the public to finance the purchase of new equipment, it does so by selling bonds
a. True b. False Indicate whether the statement is true or false
As the aggregate demand curve shifts leftward along a given aggregate supply curve,
a. unemployment and inflation are higher. b. unemployment and inflation are lower. c. unemployment is higher and inflation is lower. d. unemployment is lower and inflation is higher.