Producing an amount of GDP equal to potential GDP is most consistent with the economy producing
A) either on or within the production possibilities frontier.
B) on the production possibilities frontier.
C) beyond the production possibilities frontier.
D) either on or beyond the production possibilities frontier.
E) within the production possibilities frontier.
B
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The biggest wave of bank failures in the U.S. occurred:
A) during the Great Depression. B) before the Great Depression. C) during 2007 to 2009. D) in the early 1990s.
Individuals are forced to make choices because
a. wants are unlimited. b. the supply of resources is infinite. c. wants are unlimited and resources are scarce. d. resources exceed wants.
If Sam's opportunity cost of a sweater is $37, which of the following prices would he have to observe in the market in order to sell a sweater?
A. $37 B. $37.01 C. $50 D. Sam would sell a sweater at any of these prices.
The per se rule was an antitrust law guideline that emphasized ____ over ____
a. price; quantity b. quantity; price c. law; the economy d. size; behavior e. behavior; size