Given the production possibilities schedule in the above table, a combination of 60 televisions and 40 personal computers
A) is attainable but involves an inefficient use of society's resources.
B) would be attainable only if a new technology of producing televisions or computers were introduced.
C) is not attainable because it is not listed in the schedule.
D) is not attainable because society does not have enough resources to produce this combination.
A
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. B; C C. B; A D. D; B
Between 1981 and 2012, the United States
A) had a current account surplus almost every year. B) some years had a deficit and some years had a surplus that totaled a surplus of $2.5 trillion. C) had a current account surplus or deficit that almost equal to $0 every year. D) had a current account deficit almost every year. E) some years had a deficit and some years had a surplus that netted out to $0.
A continuing increase in the growth of the money supply is likely followed by
A) a recession. B) a depression. C) an increase in the price level. D) no change in the economy.
For many consumers, bacon and eggs are complements. Therefore, egg producers monitor the price of bacon because the cross elasticity between bacon and eggs is
A. negative, and a decrease in the price of bacon will decrease the demand for eggs. B. positive, and a decrease in the price of bacon will increase the demand for eggs. C. negative, and a decrease in the price of bacon will increase the demand for eggs. D. positive, and an increase in the price of bacon will increase the demand for eggs.