Referring to the Production Possibilities Frontiers in Figure 1.11 A and B, which depicts generalized growth when there is constant opportunity cost?
Figure 1.11
A. Fig. A
B. Fig. B
C. Either Fig. A or B is correct
D. Neither Fig. A nor B are correct
Answer: B
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Compound interest is:
A. the payment of interest on the original deposit. B. the payment of interest on both the original deposit and all accumulated interest. C. the interest rate adjusted for the rate of inflation. D. the real rate of interest compounded by the rate of inflation.
What happens to the maximum amount of "all other goods" that this person can buy if instead he receives the $100 in food coupons? What's the maximum amount of food he can buy under this plan?
What will be an ideal response?
In real business cycle models, shifts of the aggregate demand curve ________
A) cause changes in inflation, but have no effect on output B) cannot occur C) result from changes in the willingness to work D) result from Solow residuals
A monopoly industry: a. has very significant barriers to entry
b. faces a downward sloping demand curve. c. may earn economic profits or losses in the short run. d. has all of the above characteristics.