Jane produces only corn and cloth. Taking account of her preferences for corn and cloth
A) makes her production possibilities frontier straighter.
B) makes her production possibilities frontier steeper.
C) makes her production possibilities frontier flatter.
D) does not affect her production possibilities frontier.
D
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Between 2008 and 2009, U.S. real GDP decreased from $13.2 trillion to $12.9 trillion. As a result, the real demand for money ________ and the demand for money curve ________
A) decreased; shifted leftward B) did not change; did not shift C) increased; shifted leftward D) decreased; shifted rightward.
A firm in ________ will engage in ________ to try to earn an economic profit
A) perfect competition; advertising B) monopolistic competition; product differentiation C) perfect competition; price wars D) monopolistic competition; price wars
Despite the large federal deficits during the last few decades, public capital in the U.S. declined because: a. a growing share of the federal budget goes toward income redistribution, especially for the elderly. b. of less labor productivity
c. of increasing farm subsidies. d. of the growing portion of the national debt owed to foreigners. e. a growing share of the federal budget goes toward income redistribution, especially for national defense