In macroeconomics, the connection between inputs and outputs for an economy is called a(n) _____
a. production possibility frontier
b. aggregate production function
c. isoquant curve
d. consumption-possibility frontier
b
You might also like to view...
Which of the following is not one of the theories that have emerged as alternatives to the HO model?
A) The human skills theory. B) The product life cycle theory. C) The similarity of preferences theory. D) All of the above have been suggested as alternatives to the HO model.
Measured as a share of the economy, the size of the trade sector (exports plus imports) of the United States has
a. been increasing since 1980, but it declined during 1960-1980.
b. been relatively constant during the last four decades.
c. increased by about 10 percent during the last four decades.
d. approximately doubled since 1980 and tripled since 1960.
In a principal-agent problem, if the contract implies that the more risk-averse agent will bear less risk, we can say that this contract exhibits
A) efficiency in risk-bearing. B) risk sharing is not optimal because the less risk-averse (or risk-neutral) agent should bear none of the risk. C) risk sharing is not optimal because all risk should be transferred to the most risk-averse agent. D) risk sharing is not optimal because risk-neutral agents should face no risk.
If the Fed reduces the interest paid on banks' reserves, it is trying to make banks hold:
A. More excess reserves B. Less excess reserves C. More required reserves D. Less required reserves