The production possibilities frontier has a:
a. curved shape.
b. straight shape.
c. U shape.
d. frequency shape.
a. curved shape.
The production possibilities frontier has a curved shape.
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If the economy is on its short-run Phillips curve at the natural unemployment rate, then in the AS-AD model, real GDP is definitely
A) decreasing. B) greater than potential GDP. C) less than potential GDP. D) increasing. E) equal to potential GDP.
If at current exchange rates it was cheaper to buy a product in country B than country A, we would expect people to sell country A's currency and buy country B's currency, according to the purchasing power parity theory
a. True b. False Indicate whether the statement is true or false
Invisible Hand Principle
What will be an ideal response?
A wave of bank failures in the United States
A) occurred in the 1970s. B) occurred from the early 1980s to the early 1990s. C) occurred from late 1980s to the mid 1990s. D) has been ongoing since the late 1980s.