Points outside the production possibilities curve represent combinations of products that are
A) unattainable.
B) attainable only if the economy's resources are not fully employed.
C) attainable if the economy's resources are either fully employed or not fully employed.
D) attainable only if the economy's resources are fully employed.
A
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The following table is for a purely competitive market for resources.Number of WorkersTotal ProductProduct Price00$311632263334344035443At a wage rate of $23 per worker, the firm will choose to employ
A. 2 workers. B. 3 workers. C. 4 workers. D. 5 workers.
In the above figure, what is the efficient quantity of pretzels to produce each day?
A) one hundred B) two hundred C) three hundred D) four hundred
A restriction on bank activities that was repealed in 1999 was
A) the prohibition of the payment of interest on checking deposits. B) restrictions on credit terms. C) minimum down payments on loans to purchase securities. D) separation of commercial banking from the securities industries.
All of the following are objectives of the Federal Reserve system, except
A. to provide a constant level of currency, resisting pressure for currency growth. B. to supervise and regulate our financial institutions. C. to provide banking services for the U.S. government. D. to serve as a lender of last resort to commercial banks and thrift institutions.