The United States economy is generally operating _________ the production possibilities curve.
A. inside
B. outside
C. on
A. inside
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The upward slope of the supply curve reflects the
A. law of diminishing marginal utility. B. principle of specialization in production. C. fact that price and quantity supplied are inversely related. D. law of supply.
If reserves in the banking system increase by $200, then checkable deposits will increase by $500 in the simple model of deposit creation when the required reserve ratio is
A) 0.04. B) 0.25. C) 0.40. D) 0.50.
What are economies of scope?
a. the cost of producing two products jointly by one firm is more than the cost of producing them separately b. the cost of producing two products jointly by one firm is lesser than the cost of producing them separately c. the cost of producing two products jointly by one firm is equal to the cost of producing them separately d. none of the above
Which of the following would likely lead to the greatest improvement in health status of the population in the United States?
a. Higher per capita incomes. b. More spending on public health, such as improved water supply and sanitation. c. More medical care spending overall. d. Improved lifestyles, including reductions in the use of tobacco, alcohol, and drugs. e. More rural hospitals.